Reserve Bank of India (Prevention of Market Abuse) Directions, 2019
The Reserve Bank of India (herein after called the ‘Bank’), having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred by section 45W of the RBI Act read with section 45U of the Act and of all the powers enabling it in this behalf, hereby issues the following Directions to all persons dealing in securities, money market instruments, foreign exchange instruments, derivatives or other instruments of like nature as the Bank may specify from time to time.
These Directions shall be called the Reserve Bank of India (Prevention of Market Abuse) Directions, 2019.
They shall come into force on March 15, 2019.
These Directions shall apply to transactions of all participants in markets for financial instruments but shall exclude transactionsexecuted through the recognized stock exchanges under and in accordance with the regulations of the Securities and Exchange Board of India. These Directions shall not apply to the Bank and the Central Government in furtherance of monetary policy, fiscal policy or other public policy objectives.
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