ICSI Floats Manual on ‘Structured Digital Database (SDD) Compliance Certification’ Under PIT Regulations
- Blog|News|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 28 August, 2023
Latest from Taxmann
The SEBI (Prohibition of Insider Trading) Regulations, 2015 mandate the maintenance of a ‘Structured Digital Database’ (SDD). Under the SDD, it is important for companies to maintain a trail of the sharing of Unpublished Price Sensitive Information (UPSI).
This trail is essential so that if an investigation into breaches of the PIT Regulations or for misuse of UPSI is initiated, then there must be a trail of how the information was shared from one person to another within and outside the company.
CS professionals, being the compliance officers under the PIT Regulations must ensure compliance with policies, procedures, maintenance of records, monitoring adherence to the rules for the preserving UPSI, monitoring of trades, implementing codes, and maintaining the SDD under the PIT Regulations.
In view of this, ICSI has floated a manual on SDD Compliance Certification. The objective is to provide limited guidance on the procedural aspects of maintaining and certifying SDD by professionals.
A “Structured Digital Database” refers to a secured database maintained digitally by a person who is required to handle UPSI under the PIT Regulations. This database contains information about the nature of UPSI, the names of persons who have shared UPSI and with whom such UPSI was shared along with details of their PANs or any other identifier recognized by the law.
Click Here To Read The Full Update
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
