Changes in SEBI Regulations with respect to verification of market rumour
I. The Securities and Exchange Board of India (SEBI) has notified the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2024, effective from May 17, 2024 , which inter alia amends the provisions of Regulation 30(11). The amended provision reads as follows: [Red struck out text denotes deletions and green text denotes insertion] “30(11) The listed entity may on its own initiative also, confirm or deny any reported event or information to stock exchange(s) : Provided that the top 100 listed entities and thereafter the top 250 listed entities, with effect from the date as may be specified by the Board, shall confirm, deny or clarify upon the material price movement as may be specified by the stock exchanges, any reported event or information in the mainstream media which is not general in nature and which indicates that rumour s of an impending specific material event or information in terms of the provisions of this regulation are is circulat