(Applicable For Banks, Depositories, Fiduciary and Intermediaries.)
ProCS Insider Trading Platform Compliant with SEBI Amended Regulations applicable from 1st April 2019.?
As per the PIT Regulations – Schedule C, Banks, Depositories, Auditors, Intermediaries, Fiduciary & PCS shall monitor and report trading by its designated persons & immediate relatives of trading in securities particularly in Gray-listed Securities. Disclosure & UPSI SDD Logs on UPSI Information received from Listed Clients is also mandated.
proCS (ICMS “Schedule-C”) Solution is designed in accordance with Part C of The Third Schedule of The SEBI (Depositories and Participants) Regulations, 2018, for Report Trading in Securities and managing UPSI communication of other Listed Entities by Designated Persons as Depository, Intermediary, Banker and Fiduciary.
The software is tailored to streamline processes and ensure adherence to insider trading regulations. It simplifies complex tasks like managing restricted securities, automating trade approvals, and tracking disclosures, making compliance effortless and efficient.
Process Flow –
Optimized as per SEBI compliances, mandated from April, 2019
Restricted Security Management: Efficiently manage securities that are restricted for trading within the organization.
User Disclosure via Transaction statements / CAS Uploads: Simplify the process of user disclosure by enabling easy uploads of NSDL/CDSL Consolidated Account Statements (CAS) or transaction statements from your broker.
Preclearance/Trade Approvals:Submission of preclearance request in company defined forms and email formats.
Custom Workflow for Trade Approvals: Auto Trade Approvals or Design workflows for trade request approvals based on restricted security lists, ensuring regulatory compliance.
Quarterly Trade Statement Uploads: Allow designated persons to upload quarterly trade statements, facilitating the tracking of non-compliance.
Email-Based UPSI Capturing: Seamlessly capture and manage Unpublished Price Sensitive Information (UPSI) through integrated email workflows.
Insider Trading (Schedule C) – Solution Features
Initial & Annual Employee Disclosures – Holdings, Relations, Education & Past Work Experience
Restricted Securities Database – Excel or Manual update of Restricted Companies for Trade Restrictions
Auto or workflow based Trade Approvals– in sync with Restricted Companies
Trade Disclosures: Provision to upload Trade Details, against Pre-Cleared Trade Requests
Transaction statement upload: Monthly or Quarterly Trade Statements (Excel) upload to track Non Compliance with Evidence upload
Disclosure Task:Auto Schedule for Periodic & Continual Disclosures with email alerts, reminders and notices.
Email Templates: Configurable Email Templatesand Reminders with Email Log Report
Restricted / Gray Listed Securities – Gray Listed Security Database with Trade Restrictions.
Non Compliance Tracking – Trade in Restricted Securities or Without Approval, Contra Trades etc.
Structured Digital Database – Manual & Auto Recording of UPSIemails for SDD with Audit Trail.
PIT Awareness Programs – Video Training Module & Insider Awareness Sessions on PIT Regulations
Other Features:
- Application records contra-trade, continual disclosure late submission, traded when possession of UPSI and traded without pre-clearance.
- Violation reporting as per SEBI, NSE and BSE formats
- Operational users can import data like list of insiders, their immediate relatives, past employers and Education details.
- Automated Email alerts and notification like violations, pre-clearance approval, trade confirmation reminders, trade window closure.
- Manual Email alerts and non-submission of initial, continual, periodic disclosures. Holding mismatch, Invalid trade rate, pre-clearance approvals
- MIS reports such as List of Insiders and their declared information such as immediate relatives, past employers, education details, Material Financial Relation, Trade Details, etc.
- General & Exception reports such as insider who have submitted or not submitted their initial, continual, periodic disclose.
- Data encryption in UPSI data and other Key information elements.
- Integration with company’s Single Sign-On (SSO) and/or HRMS based user creation & authentication.
- Disallow concurrent login and automatic session timeout.
- Training Module with Video and PDF based Training Sections