Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 - System driven disclosures - Ease of doing business

Last updated: 14 August 2021

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The Securities and Exchange Board of India (SEBI) has clarified that the System Driven Disclosures (SDD) for continual disclosures under Regulation 7(2) of the PIT Regulations, 2015, are now fully implemented and mandatory. This move, effective from April 1, 2021, means listed companies that have complied with the requirements no longer need to file manual disclosures. This automation aims to simplify compliance and promote ease of doing business in the securities market.

Securities and Exchange Broad of India CIRCULAR SEBI/HO/ISD/ISD/CIR/P/2021/617 August 13, 2021 To All Listed Companies All Depositories All Nationwide Stock Exchanges Dear Sir/Madam, Sub: Automation of Continual Disclosures under Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015 System driven disclosures Ease of doing business. 1. SEBI, videcircular no. SEBI/HO/ISD/ISD/CIR/P/2020/168 dated September 09, 20201, implemented the System Driven Dis

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FAQ :

The circular clarifies that System Driven Disclosures (SDD) for continual disclosures under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, are now mandatory and system-driven, replacing manual filing for compliant listed companies.

The SDD has been in effect and gone live from April 1, 2021.

No, for listed companies that have complied with the requirements of the circular dated September 09, 2020, the manual filing of disclosures under Regulation 7(2) (a) & (b) of the PIT Regulations is no longer mandatory.

Stock Exchanges and Depositories have confirmed the implementation of the SDD in line with SEBI's circular.

The circular aims to automate continual disclosures, ensure ease of doing business, protect investor interests, and regulate the securities market.