Keep info of employees for 1 yr after resignation: Sebi tells listed firms

regulator on Thursday said listed companies should make efforts to maintain updated addresses and contact details of “designated employees” for one year after their resignation, under the digital database.

Such data needs to be preserved by the company or intermediary fiduciary for a period of five years, said in a set of frequently asked questions (FAQs) on insider trading regulations.

A listed firm needs to maintain structured digital database internally that inc­ludes details of unpub­lished price sensitive Information (UPSI) as well as of persons with whom such UPSI is shared, and details of persons who have shared the information.

Similarly, another structured digital database should be maintained capturing such information.

According to Sebi, all information required to be collected from designated persons should be collated till the date of service with the company.

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