SEBI amends prohibition of insider trading norms; raises maximum reward for informants to Rs. 10 crores
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- Last Updated on 7 August, 2021
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NOTIFICATION NO. SEBI/LAD-NRO/GN/2021/37, dated 05.08.2021
The Market Regulator, SEBI has amended the prohibition of insider-trading regulations to increase the maximum reward for informants to Rs. 10 crores from the existing upper limit of Rs. 1 crore. The amendment further provides that if the total reward payable is less than or equal to Rupees one crore, the Board may issue the reward upon the Board’s final order. ‘
However, if the informant is to be paid a reward which is more than Rs 1 crore, then SEBI will present an interim reward of up to Rs 1 crore after the final order is issued. The remaining reward amount will be granted only upon receipt of the monetary sanctions amounting to at least twice the balance of the reward amount payable by SEBI.
Read the Full Circular Here
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