The Hindu Business Line : SEBI panel moots disclosures on a continuous basis

Mumbai, Jan. 28 SEBI’s Sub-Committee on Integrated Disclosures (SCID) in its final report has made recommendations pertaining to disclosures required to be made by listed companies on a continuous basis.

Theserelate to disclosures involving promoters, persons in control, the promoter group, the capital structure the shareholding pattern, and the board of directors. It has also recommended disclosures on management, industry, project, business and business strategy, on the history of the company as well as any change in the name of the company.

According to SEBI, the disclosure requirements are premised on the idea that securities represent a bundle of rights, which are not visible to an investor of securities and such investors must know about the underlying company and the nature of bundle of rights before they take an investment decision.

Currently a company is required to provide initial disclosures in the prospectus.

The SCID committee was set up with the objective of standardising and streamlining the corporate disclosures by integrating initial disclosures made under an offer document with the continuing disclosure requirements after a company gets listed. The markets regulator has invited public comments on its report on Integrated Disclosures along with Annexures on or before March 15.

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