Sebi looks to expand scope of unpublished price-sensitive information

To enhance transparency in market disclosures, Sebi is looking to broaden the scope of Unpublished Price Sensitive Information (UPSI) by including proposed fundraising activities, restructuring plans, and one-time bank settlements.
In its consultation paper, Sebi has proposed that only agreements, including shareholder, joint venture and family settlement, that affect the management and control of the firm and are known to the firm should be considered price-sensitive and included in the illustrative list of events under the definition of UPSI.
Additionally, key developments in corporate insolvency proceedings, such as initiation or approval of resolution plans by the tribunal, should be disclosed as potentially price-sensitive.
If a forensic audit is launched or concluded for issues like fund misappropriation or financial misstatements, it should be disclosed as price-sensitive.
The proposed changes to Sebi’s definition of UPSI are aimed at increasing regulatory clarity and …