NISM Series XV : Research Analyst Certification Exam Notes
Page 60 Of 62
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Pension Fund Regulatory and Development Authority (PFRDA) is the authority entrusted to act as a regulator of the pension sector in India under the PFRDA Act, 2013. It was constituted in October 2003 with the following responsibilities: (a) To promote old age income security by establishing, developing and regulating pension funds, (b) To protect the interests of subscribers to schemes of pension funds and related matters. The PFRDA has been assigned the responsibility of designing the structure of funds and constituents in the National Pension System (NPS)
Securities Contracts (Regulation) Act, 1956 - The Securities Contracts (Regulation) Act, 1956 (SC(R)A), provides for direct and indirect control of virtually all aspects of securities market to SEBI - instruments, intermediaries, issuers and investors.
Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 - The regulations prohibiting insider trading have been made pursuant to section 30 of the SEBI Act, 1992. The regulations define 'insider' as any person who is a connected person or one in possession of or having access to unpublished price sensitive information.
A connected person is defined by the act as anyone who has been associated with the company in the six months prior to the connected act and include any person who has been in frequent communication with the officers of the company in pursuit of contractual, fiduciary or employment relationship or as an officer, employee or director of the company or holds any position that provides access to such unpublished price sensitive information
Examples of connected person - a) An immediate relative of a connected person including spouse, parent, sibling and child and other dependent persons , b) A holding company, subsidiary or associate company under the same management or group, c) An intermediary, Investment company, Trustee Company, AMC an employee or director thereof or an official of a stock exchange or of clearing house or corporation, d) A merchant banker, share transfer agent, registrar to an issue, debenture trustee, broker, portfolio manager and others, as specified, e) A member of the Board of Directors or an employee of a public financial institution as defined in section 4A of the Companies Act, 1956, f) A relative of any of the aforementioned persons, g) A banker of the company,
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