SEBI issues warning to Nestle India over insider trading norms breach
By : Sandhya
The FMCG giant Nestle India has received a warning notice from market watchdog SEBI about a senior official's alleged violation of insider trading regulations. According to a regulatory filing on Friday, an authorized representative of Nestle India received a "administrative warning letter" from the Securities and Exchange Board of India (SEBI).
The identify of the individual involved in this has not been revealed by Nestle India. "The Compliance Officer of the Company has received an administrative warning letter from the Deputy General Manager of SEBI for violation of SEBI (Prohibition of Insider Trading) Regulations, 2015 ('PIT Regulations') by a designated person of the Company," it said. A Nestle India representative later stated in a statement that the company would not be significantly impacted.