{"id":3494,"date":"2021-03-20T06:18:08","date_gmt":"2021-03-20T06:18:08","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=3494"},"modified":"2021-03-20T06:18:11","modified_gmt":"2021-03-20T06:18:11","slug":"code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/","title":{"rendered":"Code of Conduct &#038; Institutional Mechanism for Fraud Prevention by SEBI"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The\nSecurities and Exchange Board of India (SEBI), pursuant to the report given by\na committee held for Fair Market Conduct, has notified a Code of Conduct &amp;\nInstitutional Mechanism for the Prevention of Fraud or Market Abuse. Further,\nsuch a circular was issued on 03.03.2021 by way of Circular No SEBI\/HO\/MRD\/DCAP\/CIR\/P\/2021\/23\nand has been enforced with immediate effect.<\/p>\n\n\n\n<p>Also, it\nshall be noted that to ensureaccountability and responsibility of the\nmanagement or designated persons, in the case of negligence or failure, SEBI\nhas made necessary changes in the SEBI (Prohibition of Insider Trading)\nRegulations 2015.<\/p>\n\n\n\n<p>In this learning\nblog, we will cover in-depth the concept of SEBI, together with the key\nprovisions concerning the Code of Conduct &amp; Institutional Mechanism for\nPrevention of Fraud or Market Abuse.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3aa3d9d772f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3aa3d9d772f\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Concept_of_Securities_and_Exchange_Board_of_India\" title=\"Concept of Securities and Exchange Board of India\">Concept of Securities and Exchange Board of India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Entities_Eligible_for_Code_of_Conduct_Institutional_Mechanism_for_the_Prevention_of_Fraud_or_Market_Abuse\" title=\"Entities Eligible for Code of Conduct &amp; Institutional\nMechanism for the Prevention of Fraud or Market Abuse\">Entities Eligible for Code of Conduct &amp; Institutional\nMechanism for the Prevention of Fraud or Market Abuse<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Code_of_Conduct_for_Eligible_Entities\" title=\"Code of Conduct for Eligible Entities\">Code of Conduct for Eligible Entities<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Formulation_of_Code_of_Conduct\" title=\"Formulation of Code of Conduct\">Formulation of Code of Conduct<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Authority_to_Formulate_Code_of_Conduct\" title=\"Authority to Formulate Code of Conduct\">Authority to Formulate Code of Conduct<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Appointment_of_Compliance_Officer\" title=\"Appointment of Compliance Officer\">Appointment of Compliance Officer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Specify_Designated_Persons\" title=\"Specify Designated Persons\">Specify Designated Persons<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Establishment_of_Institutional_Mechanism_for_Prevention_of_Fraud_or_Market_Abuse\" title=\"Establishment of Institutional Mechanism for Prevention of\nFraud or Market Abuse \">Establishment of Institutional Mechanism for Prevention of\nFraud or Market Abuse <\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Responsibility_of_the_MD_or_CEO_to_Establish_a_Mechanism\" title=\"Responsibility of the MD or CEO to Establish a Mechanism\">Responsibility of the MD or CEO to Establish a Mechanism<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Duties_of_Board_of_Directors_and_Compliance_Officer\" title=\"Duties of Board of Directors and Compliance Officer\">Duties of Board of Directors and Compliance Officer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Regulatory_Oversight_Committee\" title=\"Regulatory Oversight Committee\">Regulatory Oversight Committee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Formation_of_Written_Policies\" title=\"Formation of Written Policies\">Formation of Written Policies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Initiation_of_Inquiry\" title=\"Initiation of Inquiry\">Initiation of Inquiry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Effective_Whistle_Blower_Policy\" title=\"Effective Whistle Blower Policy\">Effective Whistle Blower Policy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Provides_Adequate_Protection\" title=\"Provides Adequate Protection \">Provides Adequate Protection <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Directions_for_Eligible_Entities\" title=\"Directions for Eligible Entities \">Directions for Eligible Entities <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/#Official_SEBI_Circular_on_Code_of_Conduct_Institutional_Mechanism\" title=\"Official SEBI Circular on Code of Conduct &amp; Institutional Mechanism\">Official SEBI Circular on Code of Conduct &amp; Institutional Mechanism<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Securities_and_Exchange_Board_of_India\"><\/span>Concept of Securities and Exchange Board of India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The SEBI is a statutory\nbody founded on 12.04.1992, with headquarters in Mumbai. Further, the said body\nis entrusted with the power to regulate and administer the Indian Capital\nMarkets. Also, it is responsible it is responsible for monitoring the\nsecurities market and for protectingthe interests of investors by implementing\ndifferent rules and regulations for their benefit.<\/p>\n\n\n\n<p><strong>Further, the key objectives of the Securities and\nExchange Board of India are as follows:<\/strong><\/p>\n\n\n\n<ul><li>To ensure systematic manner;<\/li><li>To infuse more transparency in the environment;<\/li><li>To minimise the cases of malpractices;<\/li><li>To promote the development of capital markets;<\/li><\/ul>\n\n\n\n<p><strong>Also, Read: <\/strong><mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/sebi-amends-guidelines-for-unique-client-code-and-requirement-of-pan\/\">SEBI Amends Guidelines for Unique Client Code and Requirement of PAN<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Entities_Eligible_for_Code_of_Conduct_Institutional_Mechanism_for_the_Prevention_of_Fraud_or_Market_Abuse\"><\/span>Entities Eligible for Code of Conduct &amp; Institutional\nMechanism for the Prevention of Fraud or Market Abuse<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The entities eligible for the Code of\nConduct and Institutional Mechanism for the prevention of Fraud or Market Abuse\nare as follows:<\/p>\n\n\n\n<ul><li>Stock\nExchanges;<\/li><li>Clearing\nCorporations;<\/li><li>Depositories;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Code_of_Conduct_for_Eligible_Entities\"><\/span>Code of Conduct for Eligible Entities<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The key provisions governing the Code of\nConduct for Eligible Entities can be summarised as:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Formulation_of_Code_of_Conduct\"><\/span>Formulation of Code of Conduct<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>All the entities eligible need to formulate\na Code&nbsp; of Conduct&nbsp; (COC) to&nbsp;\nregulate,&nbsp; monitor,&nbsp; and report the trading activities undertook\nby their designated&nbsp; persons (DP)\nand&nbsp; the immediate&nbsp; relatives of these designated persons. The\nmain reason for the same is to achieve compliance with the SEBI\n(Prohibition of Insider Trading) Regulations 2015 by adopting the minimum standards prescribed in\nSchedule C to the said regulations;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Authority_to_Formulate_Code_of_Conduct\"><\/span>Authority to Formulate Code of Conduct<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The MD (Managing Director)\/ CEO (Chief\nExecutive Officer) of these entities are obligated to frame the said code of\nconduct. Further, it shall be noted that the Board of Directors (BOD) may\nensure compliance by the MD and CEOin this regard;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Appointment_of_Compliance_Officer\"><\/span>Appointment of Compliance Officer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To administer the compliance of the\nframed Code of Conduct, the entities need to appoint and designate a Compliance\nOfficer;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Specify_Designated_Persons\"><\/span>Specify Designated Persons<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Further, the Board of Directors (BOD) of\nthese entities, in consultation with the appointed compliance officer will need\nto specify the designated persons (DP) to be covered by the said code of\nconduct. The same will be decided based on their role and function in the\norganisation and the contact that such function will provide to unpublished PSI\n(Price Sensitive Information), together with the seniority and professional\ndesignation. Also, the same will include the designation or position as\nmentioned in Regulation 9 (4) of the SEBI (Prohibition of Insider Trading) Regulations\n2015;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Establishment_of_Institutional_Mechanism_for_Prevention_of_Fraud_or_Market_Abuse\"><\/span>Establishment of Institutional Mechanism for Prevention of\nFraud or Market Abuse <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The key provisions governing the establishment\nof Institutional Mechanism for Prevention of Fraud or Market Abuse are as\nfollows: <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Responsibility_of_the_MD_or_CEO_to_Establish_a_Mechanism\"><\/span>Responsibility of the MD or CEO to Establish a Mechanism<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It shall be noted that the MD or CEO of\nthe entities mentioned needs to establish an effective mechanism for internal\ncontrol. The reason behind the same is to ensure due compliance with the\ncirculars and regulations issued by the SEBI from time to time and to prevent\nthe cases of fraud or market abuse by these entities or their designated\npersons;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Duties_of_Board_of_Directors_and_Compliance_Officer\"><\/span>Duties of Board of Directors and Compliance Officer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Board of Directors needs to ensure\nthat the Managing Director or Chief Executive Officer of the organisation duly\ncomply with Para 3 and Para 4.1. Further, the Compliance Officer of the\nrespective entities need to administer and regulate the internal controls to\npreventthe cases of fraud or market abuse by the designated persons;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Regulatory_Oversight_Committee\"><\/span>Regulatory Oversight Committee<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Regulatory Oversight Committee (ROC)\nof the entities will be responsible for reviewing the compliance with the\nprovisions of the Circular. Such a review process must take place at least once\nin a fiscal year. Also, such a committee will verify that the mechanism for internal\ncontrol is proper and are operating effectively and efficiently.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Formation_of_Written_Policies\"><\/span>Formation of Written Policies<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>All the entities specified will need to\ndraft written policies, plans, and procedures for conducting an inquiry in the\ncase of allegedfraud or market abuse by their designated persons (DP) and\nimmediate relatives of the said designated persons.<\/p>\n\n\n\n<p>However, it shall be noted that such a plan,\npolicies, and procedures must be approved by the Board of Directors. <\/p>\n\n\n\n<p>Further, any enquiry or investigation conducted\nagainst the designated persons and their immediate relatives may be undertaken\nunder thedirection and supervision of the Regulatory Oversight Committee.<\/p>\n\n\n\n<p>Also, it shall be noted that to ensure\nmaximum transparency and fairness, the Regulatory Oversight Committee will\ncomprise of PIDs and Independent External experts;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Initiation_of_Inquiry\"><\/span>Initiation of Inquiry<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After becoming aware of any unethical or\nillegal practice, the entities specified need to initiate an appropriate\ninquiry. Also, these entities need to inform their BOD (board of directors)about\nsuch suspected fraud or market abuse. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Effective_Whistle_Blower_Policy\"><\/span>Effective Whistle Blower Policy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It is mandatory for all the entities to\nhave an effective whistle blower policy to allow its stakeholders, comprising\nof employees, to freely communicate their grievances and concerns regarding\nillegal or unethical practices. Also, they can report the instances of fraud,\nor market abuse, or any suspicion of fraud, or market abuse;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Provides_Adequate_Protection\"><\/span>Provides Adequate Protection <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The entities need to ensure that the\npolicy or plan framed under the provisions of Para 4.6 offers for adequate\nprotection against any termination, discharge, demotion, threats, suspension,\nharassment, either directly or indirectly or discrimination against any\nemployee who reports instances of fraud or market abuse or any suspicion of\nfraud or market abuse;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Directions_for_Eligible_Entities\"><\/span>Directions for Eligible Entities <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The directions for eligible entities are\nas follows:<\/p>\n\n\n\n<ul><li>All\nthe entities are directed to take the necessary steps for the implementation of\nthe circular. Further, the same comprises of the required amendments, pertinent\nbye-laws, rules and regulations. Also, the entities required to disseminate the\ndetails of the same on their official website;<\/li><li>Also,\nthey need to communicate the status of implementation of the circular by way of\ntheir Monthly Development Report to SEBI;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In\na nutshell, SEBI is a statutory body responsible for regulating and\nadministering the Indian Capital Markets. Also, it is responsible for protecting\nand safeguarding the interest of the general public.<\/p>\n\n\n\n<p>Further,\nto increase\ntheresponsibility of the management or designated persons, in the case of\nnegligence or failure, <a href=\"https:\/\/www.sebi.gov.in\/\">SEBI<\/a> has made\nnecessary changes in the SEBI (Prohibition of Insider Trading) Regulations\n2015. The same has been done by notifying the Code of Conduct &amp;\nInstitutional Mechanism for the Prevention of Fraud or Market Abuse.<\/p>\n\n\n\n<p>Lastly, the entities eligible for implementing the\nprovisions of the circular are Stock Exchanges, Clearing Corporations, and\nDepositories.<\/p>\n\n\n\n<p><strong>Also, Read: <\/strong><mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/sebi-annual-report-rules-2021\/\">SEBI (Annual Report) Rules 2021: A Complete Guide<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Official_SEBI_Circular_on_Code_of_Conduct_Institutional_Mechanism\"><\/span>Official SEBI Circular on Code of Conduct &amp; Institutional Mechanism<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<a href=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/03\/Official-SEBI-Circular-on-Code-of-Conduct-Institutional-Mechanism.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Official-SEBI-Circular-on-Code-of-Conduct-Institutional-Mechanism<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Securities and Exchange Board of India (SEBI), pursuant to the report given by a committee held for Fair Market Conduct, has notified a Code of Conduct &amp; Institutional Mechanism for the Prevention of Fraud or Market Abuse. Further, such a circular was issued on 03.03.2021 by way of Circular No SEBI\/HO\/MRD\/DCAP\/CIR\/P\/2021\/23 and has been [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[50,64],"tags":[518],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/3494"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=3494"}],"version-history":[{"count":3,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/3494\/revisions"}],"predecessor-version":[{"id":3502,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/3494\/revisions\/3502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/3497"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=3494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=3494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=3494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}