The Securities and Exchange Board of India (SEBI) has announced a reward of up to one crore rupees for informants willing to provide credible information regarding insider trading cases.
This will be a part of the detailed set of rules for the new 'Informant Mechanism' under the Prohibition of Insider Trading Regulations that was approved by the SEBI board yesterday. The norms also propose a possible amnesty or settlement for minor wrongdoings in return for cooperation in the probe.
SEBI will establish an Office of Informant Protection, which will be responsible for the receipt, registration, and processing of the disclosure form and also for ascertaining its authenticity.
Other major decisions include relaxation in 'Muni Bonds' to enable smart city developers and municipalities to raise funds through issuance and listing of their debt securities. (AIR NEWS)