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Code of Conduct & Institutional mechanism for prevention of Fraud or Market Abuse - SEBI - SEBI/HO/MRD/DCAP/CIR/P/2021/23

Extract

..... r prevention of fraud or market abuse shall be applicable to Stock Exchanges, Clearing Corporations and Depositories (herein after collectively referred as ‘MIIs’) also, on the lines of Regulation 9(1) to 9(4) of PIT Regulations. 3. Accordingly, MIIs shall do the following: 3.1. Formulate a Code of Conduct to regulate, monitor and report trading by their designated persons and immediate relative of designated persons towards achieving compliance with the PIT Regulations, by adopting the minimum standards set out in Schedule C to the PIT Regulations. 3.2. Managing Director (MD) / Chief Executive Officer (CEO) of the MII shall be obligated to frame the referred code of conduct. The Board of Directors may ensure the compliance by M .....

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Code of Conduct & Institutional mechanism for prevention of Fraud or Market Abuse - SEBI

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..... th Para 3 and Para 4.1 above. The compliance officer of the respective MII shall administer the internal controls to prevent fraud or market abuse by designated persons and immediate relatives of designated persons of the MII. 4.3. The Regulatory Oversight Committee of the MII shall review compliance with the provisions of this Circular at least once in a financial year and shall also verify that the systems for internal control are adequate and are operating effectively. 4.4. MII shall formulate written policies and procedures for inquiry in case of suspected fraud or market abuse by its designated persons and immediate relatives of designated persons, which shall be approved by its Board of Directors. Any enquiry / investigation against t .....

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Code of Conduct & Institutional mechanism for prevention of Fraud or Market Abuse - SEBI

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..... made thereunder i.e. Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, SEBI (Depositories and Participants) Regulations, 2018, PIT Regulations, SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003, unless the context requires otherwise. 6. MIIs are directed to: 6.1. take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above and disseminate the same on their website; 6.2. communicate to SEBI the status of implementation of the provisions of this circular through their Monthly Development Report. 7. This ci .....

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Code of Conduct & Institutional mechanism for prevention of Fraud or Market Abuse - SEBI

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