In recent years, Environmental, Social and Governance (“ESG”) factors have garnered significant attention from investors, regulators, and stakeholders worldwide due to several reasons. Investors, customers, employees, and other stakeholders are increasingly demanding greater transparency and accountability from companies regarding their ESG performance. ESG factors are being recognised as material risks that can impact a company’s long-term financial performance and sustainability. Companies with strong ESG performance and transparent disclosures differentiate themselves in the market with enhanced reputation, resultantly building stakeholder trust. Comprehensive ESG disclosures are allowing companies to identify and manage risks related to environmental and governance issues and social factors and address them proactively.Continue Reading SEBI’s ESG Disclosure Mandates: Unveiling the Value Chain
LODR Regulations
SAT’s Verdict in FCRPL & others V. SEBI: Settling the dust on interpretation of Generally Available Information in Insider Trading Cases
Introduction:
For any information to be classified as unpublished price sensitive information (“UPSI”), it should primarily satisfy the following three criteria, (1) It should relate to the company or its securities, directly or indirectly, (2) It should not be generally available, and (3) There should be a likelihood of the information materially affecting the price of the securities. Generally available information is information available in the public domain (on a non-discriminatory basis). Basis this, the Securities and Exchange Board of India (“SEBI”) analyses and identifies whether information can be termed as UPSI and classifies whether trades conducted by Insiders[1] are in violation of the SEBI (Prohibition of Insider Trading) Regulations, 2015 (“2015 PIT Regulations”).Continue Reading SAT’s Verdict in FCRPL & others V. SEBI: Settling the dust on interpretation of Generally Available Information in Insider Trading Cases