SEBI revises its comprehensive FAQs on the Prohibition of Insider Trading Regulations, 2015
TaxByKK · Compliance News · taxbykk.com5 Nov 2026
In short
SEBI has issued revised comprehensive FAQs on the SEBI (Prohibition of Insider Trading) Regulations, 2015, dated 5 November 2026. They replace the FAQs of 31 December 2024 and reflect later amendments, queries and consultations. They are arranged under ten heads: trading, structured digital database, pledge, trading plan, disclosures, pre-clearance, trading window closure, contra-trade, designated persons and immediate relatives, and general. SEBI says they are guidance and not an interpretation of law or a binding opinion.
- Authority
- Securities and Exchange Board of India
- Document
- Comprehensive FAQs on SEBI (PIT) Regulations, 2015 (revised)
- Date
- 5 November 2026
- Replaces
- Comprehensive FAQs dated 31 December 2024
- Length
- 31 pages
- Status
- Guidance; not an interpretation of law or a binding decision
- Footnotes
- Mark each answer inserted, substituted or omitted in the revision
What changed
| Item | Before | Now |
|---|---|---|
| Pledge | - | Creation, invocation and revocation of a pledge count as trading under the regulations |
| Securities lending | - | A new FAQ (1A) addresses whether borrowing or lending under the SLB mechanism is trading |
| Trading definition | - | Footnotes bring in 'redeeming, switching' and omit the exception for mutual fund units, in line with the 2022 amendment |
| Wording | - | 'On the basis of UPSI' replaced by 'while in possession of UPSI' in an answer |
Only the points above were checked against the footnotes in the document's opening pages; the full set of changed answers is in the Official PDF. The FAQs do not carry new compliance dates.
Who it applies to
- Listed companies and their compliance officers
- Designated persons and their immediate relatives
- Intermediaries and fiduciaries
- CAs, CSs and lawyers advising on SEBI (PIT) compliance
What to do
- Compliance officers should compare the revised answers with the company's code of conduct and trading plan procedures.
- Retire references to the 31 December 2024 FAQs.
Reference
SEBI, Comprehensive FAQs on SEBI (Prohibition of Insider Trading) Regulations, 2015, revised, 5 November 2026.
Read the official PDF: SEBI revised FAQs 5 Nov 2026Written by TaxByKK from the official notification. Check the official text before you act on it.
Frequently asked questions
Do the FAQs replace the older ones?
Yes, the document rescinds the FAQs dated 31 December 2024.
Are they binding?
No. SEBI says they are guidance and not a binding opinion.
Is pledging trading?
The FAQ says trading includes creation, invocation and revocation of a pledge.