SEBI on May 18, 2023 has issued a Consultation paper on draft SEBI (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023. The objective of this Consultation Paper is to solicit comments from the public on the draft SEBI (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023.
It is proposed that a person or a group of connected persons, if found to be exhibiting UTP, in a security or a group of securities, where such UTP coincides with Material Non-Public Information in relation to that security or group of securities, such UTP will be deemed to be Suspicious Trading Activity.
