SEBI Master Circular on Surveillance of Securities Market
SEBI recently released a Master Circular for ensuring effective surveillance of the securities market compiling the provisions of various circular issued in this respect in order to ensure availability of consolidated information contained in all the circulars one place. This Master Circular is categorized subject wise under various headings, viz., trading rules and shareholding in dematerialized mode, monitoring of unauthenticated news circulated by SEBI registered market intermediaries through various modes of communication and disclosure reporting under the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015.
On Monitoring of unauthenticated news, It has been observed by SEBI that unauthenticated news related to various scrips are circulated through social media platforms/ instant messaging services/ VoIP/ blogs/chat forums/e-mail or any such medium by employees of Broking Houses/other intermediaries without adequate caution as mandated in the Code of Conduct for Stock Brokers and respective regulations of various intermediaries registered with SEBI. Hence, SEBI Registered Market Intermediaries are directed that proper internal code of conduct and controls should be put in place and Employees/temporary staff/voluntary workers etc. employed/working in the offices of market intermediaries do not encourage or circulate rumours or unverified information obtained from client, industry, any trade or any other sources without verification among other directions.
