Accounting giant PwC India said on Friday it will work with Axar Digital Services Pvt Ltd (Axar) to help companies track if they are compliant with the market regulator’s rules on insider trading.
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“We will be jointly working on creating market awareness and building tech-enabled practices and solutions to help clients in India to enable adherence to PIT norms,” said Lokesh Gulati, partner (Contracts and Compliance) at PwC India.
One part in PIT says: “No insider shall communicate, provide, or allow access to any unpublished price sensitive information, relating to a company or securities listed or proposed to be listed, to any person including other insiders except where such communication is in furtherance of legitimate purposes, performance of duties or discharge of legal obligations.”
“We welcome the increased vigilance and enforcement of PIT norms as fair trade practices like this are imperative to attract global investments and build trust and protect retail investors,” said Ankur Jain, partner and leader (Contracts and Compliance) at PwC India.
Devdutta B (Sunil) Modak, managing director at Axar, said the company is “committed to simplifying and ensuring SEBI PIT Compliance for listed companies, intermediaries and fiduciaries.”
First Published: Mar 15 2024 | 6:31 PM IST