This article examines the proposed amendments to the SEBI (Prohibition of Insider Trading) Regulations, 2015, aimed at rationalising the scope of the expression 'connected person' while not increasing compliance requirements. The article analyses the following points:
‣ The Current Definition of 'Insider' and 'Connected Person' Under PIT Regulations
‣ The Reasons Behind SEBI's Consideration of Changing the Definition of 'Connected Person'
‣ The Proposed Redefinition of 'Relative' in PIT Regulations to Align with the Income Tax Act, 1961
‣ Proposed Changes to the Definition of 'Connected Person'
‣ The Retention of the 'Immediate Relative' Definition for Disclosures and the Continuation of Ease of Doing Business
‣ Implications of SEBI's Proposed Changes to the 'Connected Person'
