CA Aman Rajput
Quick Summary
Recently, Inter-alia SEBI came up with the New Initiative for Enhanced Transparency and Compliance. Lets start this article with a brief introduction to the circular. SEBI took a big move that aimed at improving transparency in the market and the ease of doing business. The Industry Standards For
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FAQ :
The main goal is to enhance transparency and accountability in the Indian financial markets by ensuring listed entities have a standardised approach to verifying and disclosing market rumours, thereby fostering a more informed and stable market environment.
The new industry standards were developed by the Industry Standards Forum (ISF), which comprises representatives from ASSOCHAM, CII, and FICCI, in consultation with SEBI and under the aegis of the Stock Exchanges.
The standards will initially be applicable to the top 100 listed entities from June 1, 2024.
From December 1, 2024, the standards will apply to the next 150 listed entities, bringing the total coverage to the top 250 listed companies.
Upon verifying a market rumour, listed entities must make prompt public disclosures through official stock exchange channels to ensure all investors have equal access to verified information.
The stock exchanges, in coordination with industry associations like ASSOCHAM, CII, and FICCI, will oversee the implementation. SEBI will also oversee adherence to these new standards.
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