Who can make a request for Informal Guidance under SEBI Scheme? Can this request be given confidential treatment under the Scheme?

CS Executive · Capital Markets & Securities Laws · PYQS · December 2020
Who can make a request for Informal Guidance under SEBI Scheme? Can this request be given confidential treatment under the Scheme?

Answer & Explanation:

The following persons may make a request for informal guidance under the scheme: Any intermediary registered with SEBI. Any listed company. Any company which intends to get any of its securities listed and which has filed either a listing application with any stock exchange or a draft offer document with the Board or the Central listing authority. Any mutual fund trustee company or asset management company. Any acquirer or prospective acquirer under the SEBI (SAST) Regulations, 2011. Any person submitting letter or written communication under SEBI Scheme, may request that it receives confidential treatment for a specified period of time not exceeding 90 days from the date of the Department's response. The request shall include a statement of the basis for confidential treatment. If the department determines to grant the request, the letter or written communication will not be available to the public until the expiration of the specified period. If it appears to the department that the request for confidential treatment should be denied, the requestor will be so advised and such person may withdraw the letter or written communication within 30 days of the receipt of advise, in which case the fee, if any, paid by him would be refunded to him. If the request is of such kind in which requestor has no direct or proximate interest, has and request has been withdrawn, no response will be given and the letter or written communication will remain with the SEBI but will not be made available to the public. If the letter or written communication is not withdrawn, it shall be available to the public together with any written staff response.

Topics: SEBI Regulations

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