Based on the advanced systems adopted and installed by registrars, transfer agents, exchanges and depositories, SEBI is exploring ways and means to implement system-driven disclosures of company information.
The proposed system will be implemented in phases. The first phase of implementation would commence on January 1, 2016, the Securities and Exchange Board of India said in a circular on Tuesday.
The disclosures in the first phase will pertain to acquisition/disposal of equity shares by promoters/promoter group based on specified thresholds under the SAST (Takeover) Regulations, PIT (Insider Trading) Regulations and pledge of equity shares by promoters/promoter group.
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