Market regulator Sebi plans to streamline disclosure framework

Suggests halving disclosure timeline to 12 hours; proposes mandating top 250 listed firms to confirm/deny media reports

The Securities and Exchange Board of India (Sebi) has plans to give a fillip to disclosure requirements to encourage better information symmetry at listed firms. 

Under the current regulations, companies need to disclose any event such as acquisition, merger, demerger, restructuring, or sale of any unit which will have an impact on the business.

In its consultation paper dated November 12, Sebi has proposed new thresholds for so-called ‘material disclosures’.

Under this, if an event is expected to impact at least 2 per cent of a company’s turnover, 2 per cent of net worth, or 5 per cent of the