SEBI, in its Board meeting held on March 29, 2023, has approved the proposal for review and rationalization of the disclosure of material events or information by the listed entities. The changes approved, inter-alia, also include introduction of quantitative thresholds for determining ‘materiality’ of events / information, disclosure for certain types of agreements binding listed entities, etc.
In furtherance of this proposal, SEBI on May 18, 2023 has issued Consultation Paper on proposed review of the definition of Unpublished Price Sensitive Information (UPSI) under SEBI (Prohibition of Insider Trading) Regulations, 2015 for Soliciting public comments / views on the proposed amendment to the definition of UPSI, under SEBI (Prohibition of Insider Trading) Regulations, 2015, to bring greater clarity and uniformity of compliance in the ecosystem by linking to material events as defined under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
