Regulation 49 - Obligation to maintain secrecy - Securities And Exchange Board Of India (Employees' Service) Regulations, 2001

Obligation to maintain secrecy 49. (1) Every employee shall maintain strictest secrecy regarding the Board s affairs and shall not divulge or disclose, directly or indirectly, any information of a confidential nature or relating to the working of the Board to a member of the public or of the Board s employees or to his friends or relatives, unless compelled to do so by judicial or other authority, or unless instructed to do so by a superior officer in the discharge of his duties. (2) No employee shall make use of any information emanating from the Board or otherwise which has come to his knowledge in the discharge of his official duties for his personal benefit or for the benefit of his friends or relatives. (3) No employee shall communicate any unpublished price sensitive information to any other person except when required to do so in the course of his official duty. (4) Every employee, including those who are on contract/temporary basis shall, before entering upon his duties, make a declaration of fidelity and secrecy in the FORM A annexed to these Regulations.