Velox is a mobile & web-enabled multi-scrip and multi-asset class solution for end to end tracking and managing employees’ investments and holdings, to ensure compliance as per SEBI‘s Prohibition of Insider Trading Regulations & UPSI.Book a Demo
TRUSTED by 30+ Institutions with over 15K users including 9 large mutual funds, 3 life insurance companies, 11 broking houses, 3 merchant banks and 2 investment banking companies and 1 rating agency.
Complete visibility over employee investment requests & reporting
Automated trade request approvals/rejections based on preset rules
Control over UPSI & SDD
Automatic reminders for periodic submissions
Easy access to employee profile, request, reporting and defaulter list
An insider in the context of insider trading refers to someone who has access to confidential, non-public information about a company.
Insiders are typically individuals who have a close relationship with the company and its operations,giving them insights that the public doesn't have.
Examples of Insiders often include:
For Regulatory Bodies:
Insider trading is punishable u/s 15G of the SEBI Act, 1992. The penalty is as follows:
An insider shall be liable to a penalty which shall not be less than ` 10 lakhs but which may extend to ` 25 Crores or 3 times the profits out of insider trading, whichever is higher.
Essentially, insider trading involves trading in a public company's stock by someone with non-public, material information about that stock. Insider trading is illegal, but if an insider trades their holdings and reports it properly, it is an insider transaction, which is legal.
Designated Individuals and their next of kin are banned from contacting directly or indirectly with any person or granting any access at any time, except for the pursuit of 'legitimate goals, the execution of obligations, or compliance with legal obligations.
Insider trading by a designated person or their close associates is forbidden at all times.
According to SEBI laws, a Designated Person who buys or sells any number of the company's stocks may not engage in a contrary transaction within six months of the date