The regulator said it has been receiving various references from listed firms regarding violations related to code of conduct.
However many of such references provide incomplete details about the nature of violation, designation and functional role of designated persons who have committed the violation, frequency of such violations etc. Such information is crucial for examining the reported violations and taking further necessary action if required, Sebi said.
"With an objective to standardize the process relating to dealing with such violations of the code of conduct, all listed companies, intermediaries and fiduciaries shall report such violations by the designated persons and immediate relatives of designated persons in the standardized format to Sebi," the regulator said in a circular.
All listed companies, intermediaries and fiduciaries will "maintain a database of the violation of code of conduct by designated persons and immediate relatives of designated persons that would entail initiation of appropriate action against them," it added.
Details like whether the designated person is a promoter, or belongs to promoter group, the name of the scrip, number of scrips traded by the designated person and value of such transaction, details of violations observed under PIT norms, action taken by the listed company, among other details are mandated in the new standardize format.
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