Overview

• SEBI Chair Tuhin Kanta Pandey urged managing directors and chief executives of listed banks in Mumbai to tighten adherence to the Prohibition of Insider Trading Regulations.
• He stressed that banks carry a dual responsibility by holding unpublished price-sensitive information about other listed companies through activities such as large loan sanctions, restructurings, repayment talks, and insolvency proceedings.
• All sensitive information must be handled strictly on a need-to-know basis, with even casual or informal sharing treated as a breach.
• Pandey said the Structured Digital Database is central to compliance and that banks must maintain two SDDs—one for their own UPSI and another for fiduciary UPSI—with zero tolerance for non-compliance.
• Boards were told to empower compliance officers and to deploy technology such as automated trading-window controls, centralized pre-clearance and disclosure portals, and digital training and certification tools.