I suspect insider trading by officers of a listed company whose registered office is in New Delhi; how do I file a SEBI complaint and what evidence is required?

Detailed Legal Analysis

To file a complaint with the Securities and Exchange Board of India (SEBI) regarding suspected insider trading by officers of a listed company, you must follow a systematic approach and provide relevant evidence to support your claims.

Here are the steps you should take to file a complaint:

• Gather Evidence: Collect all pertinent information and documentation that supports your suspicion of insider trading. This may include:
• Records of transactions by the company officers.
• Details of non-public information that may have influenced trading decisions.
• Emails, messages, or any communications suggesting unlawful trading.
• Public trading data showing unusual patterns correlating with the timing of the insider information.
• Prepare Your Complaint: Draft a detailed complaint outlining:
• Your personal information (name, address, contact information).
• The name and details of the listed company and the officers involved.
• A clear statement of your allegations and the basis for your suspicion.
• A list of evidence attached to the complaint.
• Submit the Complaint: You can file your complaint in multiple ways:
• Online through the SEBI Complaints Redress System (SCORES) portal by registering at https://scores.gov.in.
• By email to SEBI’s designated email address for complaints (e.g., investor@sebi.gov.in).
• By post or in person at the SEBI office in New Delhi.
• Follow-Up: After submission, you can track the status of your complaint through the SCORES portal. Ensure you keep a record of your complaint submission and any corresponding communication.

Legal Basis: Insider trading is governed under the Securities and Exchange Board of India Act, 1992, and SEBI (Prohibition of Insider Trading) Regulations, 2015. Specifically, Section 15G of the SEBI Act provides for penalties for insider trading, which can include monetary fines and imprisonment.

It is crucial to provide detailed and credible evidence to substantiate your claims, as SEBI relies heavily on the information provided by complainants to investigate such matters effectively.