System-driven Disclosures in Securities Market
Summary
SEBI amends the procedure for system-driven disclosures by requiring Depositories to provide promoter transaction data directly to Stock Exchanges. This change streamlines the dissemination of disclosures regarding transactions in dematerialized mode beyond specified threshold limits. The modified procedure becomes effective from January 02, 2017, while previous circular provisions remain in force.
Text
Depositories shall provide the transaction data of promoters/promoter group on a daily basis directly to the stock exchanges for dissemination of the necessary disclosures.
The Depositories and Stock Exchanges are advised to make necessary arrangements so that the disclosures of all transactions of promoters/promoter group in dematerialized mode beyond the threshold limits as per the modified procedure may be disseminated on their websites from January 02, 2017.
Other requirements of SEBI circular dated December 01, 2015 on the same subject will remain in force.
This circular is issued in exercise of powers conferred by section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
Source: SecMarx — System-driven Disclosures in Securities Market. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.