{"id":3708,"date":"2021-03-26T06:36:19","date_gmt":"2021-03-26T06:36:19","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=3708"},"modified":"2021-03-26T06:36:22","modified_gmt":"2021-03-26T06:36:22","slug":"master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/","title":{"rendered":"Master Circular on the Surveillance of the Securities Market Notified by SEBI"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The SEBI, or the Securities and Exchange Board of India, from time to time, has been issuing several circulars for the effective surveillance of the securities market. In the same manner, recently, it has issued a Master Circular No SEBI\/ HO\/ ISD\/ ISD\/ CIR\/ P\/ 2021 \/22, on 01.03.2021, concerning the Surveillance of the Securities Market. <\/p>\n\n\n\n<p>In this learning blog, we will discuss\nthe notion of SEBI and Master Circular, together with the key provisions of the\nMaster Circular on the Surveillance of the Securities Market, issued by it.<\/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-6a3a77c1a8e25\" 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-6a3a77c1a8e25\"  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\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Concept_of_Securities_Exchange_Board_of_India\" title=\"Concept of Securities Exchange Board of India\">Concept of Securities 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\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Concept_of_Master_Circular\" title=\"Concept of Master Circular\">Concept of Master Circular<\/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\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Entities_Applicable_for_the_Master_Circular_on_the_Surveillance_of_the_Securities_Market\" title=\"Entities Applicable for the Master Circular on the\nSurveillance of the Securities Market\">Entities Applicable for the Master Circular on the\nSurveillance of the Securities Market<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Circulars_and_Annexures_Covered_under_the_Master_Circular\" title=\"Circulars and Annexures Covered under the Master Circular\">Circulars and Annexures Covered under the Master Circular<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Circulars\" title=\"Circulars \">Circulars <\/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\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Annexures\" title=\"Annexures\">Annexures<\/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\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Schedules\" title=\"Schedules\">Schedules<\/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\/master-circular-on-the-surveillance-of-the-securities-market-notified-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-9\" href=\"https:\/\/swaritadvisors.com\/blog\/master-circular-on-the-surveillance-of-the-securities-market-notified-by-sebi\/#Official_Copy_of_the_Master_Circular_Passed_by_SEBI\" title=\"Official Copy of the Master Circular Passed by SEBI \">Official Copy of the Master Circular Passed by SEBI <\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Securities_Exchange_Board_of_India\"><\/span>Concept of Securities Exchange Board of India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term Securities and\nExchange Board of India or SEBI is an autonomous statutory body, formed in the\nyear 1992. The same has been entrusted with the responsibility and duty to\nregulate and supervise the Indian capital and securities markets. <\/p>\n\n\n\n<p>Further, the main reason behind establishing this entity is to protect and safeguard the investors\u2019 interest, regulate and administer the capital market, and enforce the relevant rules and regulations regarding the first objectives.<\/p>\n\n\n\n<p><strong>Also, Read: <\/strong><mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/sebi-portfolio-managers-amendment-regulations-2021\/\">SEBI (Portfolio Managers) (Amendment) Regulations 2021: A Guide<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Master_Circular\"><\/span>Concept of Master Circular<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term Master Circular means a\ncompilation or collection of circulars issued by ISD (Integrated Surveillance\nDepartment), which are operational as on the circular date. Further, it shall\nbe noted that to enable the users to have an approach to all the pertinent\ncirculars at one place, the Master Circular on the Surveillance of the Securities\nMarket has been prepared.<\/p>\n\n\n\n<p>Also, it shall be noted that the list of\nthe applicable circulars has been annexed as well. So, if in case there is any\ninconsistency between the Master Circular and another applicable circular, the\nsubstance of the relevant circular will prevail.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Entities_Applicable_for_the_Master_Circular_on_the_Surveillance_of_the_Securities_Market\"><\/span>Entities Applicable for the Master Circular on the\nSurveillance of the Securities Market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The entities applicable for the Master\nCircular on the Surveillance of the Securities Market are as follows:<\/p>\n\n\n\n<ul><li>All\nthe Recognised Stock Exchanges;<\/li><li>All\nDepositories;<\/li><li>All\nthe Listed Companies;<\/li><li>All\nthe Market Intermediaries registered with the SEBI under the provisions of\nsection 12 of the SEBI Act 1992;<\/li><li>Fiduciaries\nas per the SEBI (Prohibition of Insider Trading) Regulations 2015;<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Circulars_and_Annexures_Covered_under_the_Master_Circular\"><\/span>Circulars and Annexures Covered under the Master Circular<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Circulars\"><\/span>Circulars <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The set of circulars covered under the\nsaid Master Circular are as follows:<\/p>\n\n\n\n<ul><li>Trading\nRules &amp; Shareholdings in Dematerialised Form;<\/li><li>Unauthenticated\nNews Circulated by the SEBI Registered Market Intermediaries by way of several\nmodes of communication;<\/li><li>SEBI\n(Prohibition of Insider Trading) Regulations 2015;<\/li><\/ul>\n\n\n\n<ol><li>Disclosures\nunder Regulations 6 and 8 (Code of Fair Disclosures) and Regulation 9 (Code of\nConduct);<\/li><li>Allowing\nOFS (Offer for Sale) and RS (Rights Entitlement) transactions during the\nclosure of trading window;<\/li><li>Reporting\nto Recognised Stock Exchanges concerning violations relating to the Code of\nConduct;<\/li><li>Automation\nof the Continuation Disclosures under Regulation 7 (2) of the SEBI (Prohibition\nof Insider Trading) Regulations 2015 \u2013 System Driven Disclosures;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Annexures\"><\/span>Annexures<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The set of annexures covered under the\nsaid Master Circular are as follows:<\/p>\n\n\n\n<ul><li>Annexure\n1: Formats for Disclosures under the SEBI (Prohibition of Insider Trading)\nRegulations 2015;<\/li><\/ul>\n\n\n\n<ol><li>Form\nA: Regulation 7 (1) (a), read with Regulation 6 (2) \u2013 Initial Disclosures to\nthe Company;<\/li><li>Form\nB: Regulation 7 (1) (b), read with Regulation 6 (2) \u2013 Disclosures on becoming a\nKMP (Key Managerial Personnel)\/ Director\/ Promoter\/&nbsp; Member of the Promoter Group;<\/li><li>Form\nC: Regulation 7 (2), read with Regulation 6 (2) \u2013 Continual Disclosures;<\/li><li>Form\nD: Regulation 7 (3) \u2013 Transactions by other related persons as identified by\nthe company;<\/li><\/ol>\n\n\n\n<ul><li>Annexure\n2: Report by (Name of the Fiduciary\/ Listed Company\/ Intermediary) for the\nviolations and infringements concerning the Code of Conduct under the SEBI\n(Prohibition of Insider Trading) Regulations 2015;<\/li><li>Annexure\n3: Steps\/ Processes needed to be undertaken for implementation;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Schedules\"><\/span>Schedules<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Schedule 1 of the Master Circular on the\nSurveillance of the Securities Market contains a comprehensive list of all the\nrequired circulars. <\/p>\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, the <a href=\"https:\/\/www.sebi.gov.in\/\">SEBI<\/a> has passed a Master\nCircular on the Surveillance of the Securities Market to enable the users to\nhave an approach to all the pertinent circulars in one\nplace. The same was notified by Master Circular No SEBI\/ HO\/ ISD\/ ISD\/ CIR\/ P\/\n2021 \/22, issued on 01.03.2021.<\/p>\n\n\n\n<p><strong>Also, Read: <\/strong><mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/code-of-conduct-institutional-mechanism-for-fraud-prevention-by-sebi\/\">Code of Conduct and Institutional Mechanism for Fraud Prevention by SEBI<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Official_Copy_of_the_Master_Circular_Passed_by_SEBI\"><\/span>Official Copy of the Master Circular Passed by SEBI <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<a href=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/03\/Official-Copy-of-the-Master-Circular-Passed-by-SEBI.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">Official-Copy-of-the-Master-Circular-Passed-by-SEBI<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The SEBI, or the Securities and Exchange Board of India, from time to time, has been issuing several circulars for the effective surveillance of the securities market. In the same manner, recently, it has issued a Master Circular No SEBI\/ HO\/ ISD\/ ISD\/ CIR\/ P\/ 2021 \/22, on 01.03.2021, concerning the Surveillance of the Securities [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[50,64],"tags":[549],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/3708"}],"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=3708"}],"version-history":[{"count":5,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/3708\/revisions"}],"predecessor-version":[{"id":3715,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/3708\/revisions\/3715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/3712"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=3708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=3708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=3708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}