Price Sensitive Information

Markets regulator Sebi has widened the ambit of the scope of Unpublished Price Sensitive Information (UPSI) by including any proposed fundraising activities agreements which can impact the management or control of the company, restructuring plans, and one-time bank settlements. The move is aimed at enhancing regulatory clarity, certainty and uniformity in compliance in the ecosystem. To give this effect, Sebi, in a notification issued on March 11, amended insider trading regulations. The new rules would come into force from June 10. In its notification, Sebi said that any proposed fundraising activity, upward or downward revisions in credit ratings, other than ESG ratings, and agreements affecting the management or control of the company would be considered as UPSI. Further, developments relating to corporate insolvency processes, including the clearance of resolution plans, one-time settlements, or restructuring of loans and borrowings from banks or financial institutions would fa

An army soldier has pleaded guilty to charges that accuse him of selling sensitive information related to US military capabilities, including dozens of documents addressing topics ranging from rocket systems to Chinese military tactics. Sgt Korbein Schultz, who was also an intelligence analyst, entered the guilty plea Tuesday in federal court in Nashville. He had previously pleaded not guilty, then last month requested a hearing to change his plea. In total, Shultz received at least 14 payments totaling $42,000, prosecutors have said. Schultz was accused in a six-count indictment of charges including conspiring to obtain and disclose military defense information and bribery of a public official. The 24-year-old was arrested in March at Fort Campbell, which straddles the Tennessee-Kentucky line, shortly after the indictment was released. He pleaded guilty to all charges against him and will be sentenced on Jan 23, 2025. A federal public defender representing Schultz declined to comm

The market regulator had sought public comments on whether the PIT Regulations need to be amended to also cover the MF industry.

"This settlement order disposes of the aforesaid adjudication proceedings initiated against the applicant viz. Ravi Kant Jaipuria vide SCN... dated December 21, 2021," Sebi said in its order.

Sebi said Reliance did not disclose the deal even after newspaper reports in March 2020 published price-sensitive details about the Facebook investment that led to a spike in RIL shares

Insider trading refers to trading of securities while in possession of Unpublished Price Sensitive Information (UPSI) about the particular securities