SEBI, by its discussion paper published on June 10, 2019, had sought public comments on its proposal to amend the SEBI (Prohibition of Insider Trading) Regulations, 2015 to provide for an effective informant mechanism for early detection of insider trading. The proposed mechanism aims to facilitate timely reporting of instances of insider trading. The discussion paper sets out key features of the proposed mechanism, including in relation to voluntary information disclosure form, disclosure of the source of information, confidentiality of the identity of the informant, grant of a reward for the informant of upto Rs. 1 crore (approx. USD 150,000) and protection against victimization of informants.