Amendment to SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003

SEBI has amended the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 on October 19, 2020, to clarify that any act of diversion, misutilisation or siphoning off of assets/ earnings of a listed company or concealment of such act or any device, scheme or artifice to manipulate the books of accounts/ financial statements of such companies, that would directly or indirectly manipulate the price of securities of such companies, will be and will always be deemed to have been considered as manipulative, fraudulent and an unfair trade practice in the securities market.

Published In:Inter Alia - Quarterly Edition - December 2020 [ English Chinese japanese ]
Date: December 31, 2020