Code of Conduct- Securities Dealing Procedures in terms of SEBI (Research
Analysts) Regulations, 2014
SEBI vide its Notification No. LAD-NRO/GN/2014-15/07/1414 dated 1st September, 2014 has notified SEBI (Research Analysts) Regulations, 2014 which are effective
on/after expiry of 29th November, 2014 (Ninetieth day from the date of their publication if official gazette). These regulations have been introduced by SEBI with the objective of fostering transparency in security research and provide the investors with more reliable and useful information to make investment decisions.
These Code of Conduct – Securities Dealing Procedures are being implemented in line with these regulations.
The policy shall be applicable to Sugam Kumar Kashyap, (“RA” Registration No.: INH000011325) Research analyst i.e. a person primarily responsible for preparation or publication of the content of the research report; or providing a research report or Making ‘buy, sell/hold’ or ‘overweight / underweight’ recommendation or giving price target or offering an opinion on any security that are listed or to be listed in a Stock Exchange.
- CODE OF CONDUCT FOR RESEARCH ANALYST
a. Honesty and Good Faith
Research Analyst shall act honestly and in good faith.
Research Analyst shall act with due skill, care and diligence and shall ensure that the research report is prepared after or stock recommendation are given
after thorough analysis.
c. Conflict of Interest
Research Analyst shall effectively address conflict of interest which may affect the impartiality of its research analysis and research report or stock
recommendation and shall make appropriate disclosures to address the same.
d. Insider Trading or front running
Research Analyst shall not engage in insider trading or front running or front running of our own research report or stock recommendation
Research Analyst shall maintain confidentiality of report or research recommendation till the report is made public or stock recommendations are
provided to respective clients.
f. Professional Standard
Research Analyst engaged in research analysis or research recommendation shall observe high professional standard while preparing research report or
analyzing subject companies for stock recommendations.
Research Analyst shall comply with all regulatory requirements applicable to the conduct of its business activities.
- INSIDER DEALING
No staff member in possession of inside information may be involved in trading, making recommendations or publishing research with respect to the financial
instruments to which the information relates.
- NO FRONT-RUNNING
Front-running is prohibited. There are two ways in which front-running can arise:
a. through use of client order information, i.e. utilising the advantage of advance knowledge of pending orders of clients; or
b. through information about the timing or contents of research prior to publication to clients.