Mumbai: The Securities and Exchange Board of India (SEBI) on Wednesday approved new insider trading rules that will replace a two-decade old law seen as inadequate to curb trading violations.
The new rules, which are based on recommendations that were first revealed late last year, broaden the scope of who can be held liable for insider trading violations and require company officials to make more transparent disclosures of their trading activities.
The SEBI has taken a series of actions this year to crack down on insider trading in a bid to boost investor confidence in Indian capital markets.
SEBI on Wednesday also approved new delisting rules responding to concerns by participants that current regulations make the process of buying out minority shareholders difficult and expensive.
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