New Insider Trading Regulations: Are You Guilty?

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Published on Sat, Jan 31,2015 | 10:06, Updated at Sat, Jan 31 at 10:06Source : CNBC-TV18

The US has no specific, articulated law against insider trading. It relies instead on general SEC provisions and judicial opinions of over the last 5 decades. India explicitly prohibited insider trading in 1992. And now, 23 years later, it has re-written the regulation to expand the definition of insider, provide perpetual insiders a trading opportunity and legitimize the communication of inside information for purposes of investment due diligence. This new regulation will come into effect in May and will better equip SEBI to go after insider traders. But have we gone from too little power in the hands of SEBI to too much power? To answer that CNBC-TV18's Menaka Doshi speaks to Tata Group's General Counsel Bharat Vasani; Amarchand's Managing Partner Cyril Shroff and Senior Advocate Amit Desai.

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