Hindustan Copper amends insider trading rules effective December 2025

Hindustan Copper Limited (HCL) announced amendments to its Code of Fair Disclosure and Code of Conduct under SEBI (Prohibition of Insider Trading) Regulations, 2015, effective December 26, 2025. This updated code aims to ensure the confidentiality of Unpublished Price Sensitive Information (UPSI) and prevent its misuse. The objective is to facilitate timely and adequate disclosure of price-sensitive information by key personnel and connected persons, along with establishing robust internal controls to prevent insider trading.

The revised code outlines clear definitions for "Designated Persons," "Connected Persons," "Unpublished Price Sensitive Information," and "Legitimate Purpose." It mandates the maintenance of a structured digital database for UPSI shared and strengthens restrictions on communication and trading by Insiders. Significant updates include stipulations for Trading Plans, which must not entail trading commencement earlier than 120 calendar days from public disclosure and cannot overlap with existing plans. Furthermore, pre-clearance is now required for trades exceeding Rs. 2 Lakhs within a seven-day period, with a clear process for application and approval by the compliance officer.

The amendments also detail disclosure requirements for initial and continual holdings, as well as transactions by promoters, directors, and designated persons, particularly for trades exceeding a value of Rs. 10 Lakh. These disclosures are crucial for monitoring compliance and will be reported to the stock exchanges. Penalties for contravention of the code, including wage freezes and suspension, are outlined, with severe violations being reported to SEBI and dealt with as per the Act, emphasizing HCL's commitment to regulatory adherence and market integrity.