Did You Know? · Corporate & Commercial Contracts
Do you know the trading window doesn't just close before results - it closes for anyone holding UPSI?
Possession of unpublished price sensitive information restricts trading at any time, window open or not.
SEBI's Prohibition of Insider Trading Regulations restrict trading not merely during the announced "trading window closure" period, but for any "designated person" or "connected person" in possession of unpublished price sensitive information (UPSI) at any time, window open or not. Trading during an open window while personally possessing UPSI - say, from an unannounced board decision - is still insider trading.