#CorpLaw The capital market regulator Securities Exchange Board of India (SEBI) has asked all the listed companies to inform the stock exchanges about all the events, which are material in nature, price sensitive and have bearing on business performance. In a discussion paper, SEBI has made mandatory for all companies to disclose material information within a day to make sure that price sensitive information is disseminated to the stock exchanges in a timely manner. As a measure to squash insider training, the capital market watchdog has drawn up an elaborate list of 16 categories of material and price sensitive events along with 2 litmus tests - a price impact test and a reasonable investor test. Among other fresh additions, SEBI has proposed that companies would be required to inform the stock exchanges on any fund raising initiatives within 15 minutes of the end of their Board meeting.
Posted on: Fri, 22 Aug 2014 04:00:00 +0000