Sebi asks listed cos to make analyst call recording public in 24 hours
Written transcripts of post-earning conference calls should be made available on websites of listed companies and respective stock exchanges within five working days after such calls
New Delhi: To address information asymmetry among shareholders, Sebi on Thursday decided that listed firms should make available audio and video recordings of analyst and investor meet on their websites as well as stock exchanges within 24 hours or before the next trading day.
It also decided that written transcripts of post-earning conference calls should be made available on websites of listed companies and respective stock exchanges within five working days after such calls.
“The board has decided to amend the regulation to introduce the requirement of disclosing audio/video recordings of such meetings on the website of the listed entity and exchanges promptly, before next trading day or within 24 hours, whichever is earlier,” Sebi said in a statement.
Currently, a listed entity is required to disclose the schedule of analyst or institutional investors meet and presentations made in such meetings, to the stock exchanges and on its website.
The board of Sebi approved amendment to the portfolio managers norms, mandating portfolio managers to obtain prior approval of the regulator for change in control.
Also, it cleared the proposal for intermediaries to pay fees only through online payment gateway and doing away with physical mode of payment to encourage digital payment.
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