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BSE06 Aug 2026noticePrepared by Complied AI

Structural Digital Database and Insider Trading Compliance Best Practices

Official title

Structural Digital Database (SDD) – SEBI (Prohibition of Insider Trading) Regulations, 2015 - Suggested Best Practices

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What changed

The BSE has issued guidance for all listed entities regarding the maintenance of a Structured Digital Database (SDD) and compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015. Listed companies are required to maintain an SDD that records the nature of Unpublished Price Sensitive Information (UPSI), along with the identities of individuals who shared and received such information. Entities must implement and periodically review internal policies to prevent UPSI leakage, conduct regular training and awareness programs for employees and fiduciaries, and ensure the effective operationalization of their internal Code of Conduct. These measures are intended to ensure full regulatory compliance and prevent the misuse of sensitive information.

Who is affected
  • All listed entities
Required action
  • Maintain a structured digital database containing the nature of UPSI and the identities of persons sharing or receiving such information.
  • Implement and periodically review internal policies to prevent the leakage of UPSI.
  • Conduct periodic training and awareness programs for employees and fiduciaries.
  • Ensure the company's Code of Conduct is effectively operationalized.

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Source details

Source
BSE Ltd (Bombay Stock Exchange)
Type
notice
Published by source
06 Aug 2026
Document number
20260807-20
Issuing division
Listing Compliance-Monitoring
Coverage area
securities

Document text

Prepared for reading; wording retained from the source.

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NOTICE

Notice No.20260807-20
Notice Date07 Aug 2026
CategoryCirculars Listed Companies
SegmentGeneral
DepartmentListing Compliance-Monitoring
SubjectStructural Digital Database (SDD) – SEBI (Prohibition of Insider Trading) Regulations, 2015 - Suggested Best Practices
AttachmentsNo Attachment

[Image omitted. See the official document.]

To, All Listed Entities

Dear Sir/Madam,

SEBI (Prohibition of Insider Trading) Regulations, 2015 “(PIT Regulations)”, as amended from time to time, and the relevant circulars issued by SEBI and the Stock Exchanges detail, inter-alia, the manner in which the listed companies are required to deal with Unpublished Price Sensitive Information (UPSI). The provisions of the PIT Regulations are further supplemented and clarified through the Frequently Asked Questions (FAQs) issued by SEBI.

In light of the observations made in certain cases, it is considered imperative that listed companies diligently adhere to best practices to ensure full compliance with the PIT Regulations as amended from time to time including the following:

  1. Listed companies shall maintain a structured digital database containing the nature of UPSI, the names and PANs (or any other identifier authorized by law) of persons who have shared the information, and the names and PANs of persons with whom such information has been shared. In case where UPSI is shared with a listed company, intermediaries, or fiduciaries, the names and identifier of the individuals handling such information shall be recorded.

  2. Listed companies shall diligently implement and periodically review internal policies designed to prevent the leakage of UPSI. Such measures must be in alignment with the statutory and regulatory provisions prescribed under the PIT Regulations.

  3. To ensure a culture of compliance, companies shall conduct periodic training and awareness programs for all employees and fiduciaries regarding the prescribed manner of handling UPSI.

  4. Listed companies shall ensure compliance with the Code of Conduct formulated by the company with respect to the PIT Regulations, ensuring that the same is effectively operationalized.

  5. Listed entities are advised to implement any other such measures as may be necessary to ensure that the objectives of the PIT Regulations are achieved.

Netra Sahani Deputy Vice President – Listing Compliance

Hasti Vora Deputy Manager – Listing Compliance

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