I am holding 1000 shares of ABC Ltd as on 31st December, 2007.
On
2nd January,2008, I get an email from my compliance officer stating
that no employee shall deal in shares of ABC Ltd, since my company acts
as Trustees of ABC ltd and any dealings shall be insider trading since
price sensitive information is available.
What should I do with
the shares of ABC ltd already held before the notice of restriction was
given to deal in such shares. I know that I am prohibited from buying
such shares after the restriction, but what about the shares already
held before this restriction ??
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Insider Trading !!!!!
Replies (1)
As per SEBI Insider Trading Regulations no insider shall deal in shares of a Company while in possession of any unpublished price senstive information.
There is a trading window for insiders which remains closed during the time the said information is unpublished.
So you have to hold your shares till the time the information is unpublished and can trade when the trading window opens. Trading window opens 24 hour after the publication of the price sensitive information.
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