Request for inputs: SEBI Consultation Report on disclosures pertaining to Analyst meets, investors meet and conference calls
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Disclosure of accurate information are critical for investment decisions of the investors. Regulatory framework of SEBI already provides for disclosure of adequate and timely information to enable investors to track the performance of a listed entity.
Institutional investors meet or conference call with analysts/ shareholders is a means of communication with shareholders and sharing of information. However, it is noticed that while many listed companies disclose the occurrence of institutional investors meet or conference call with analysts, they do not divulge the details of what transpired in such meetings. Minority shareholders, who do not attend these meetings, are not privy to the information shared with a select group of investors, thereby creating information asymmetry among different classes of shareholders.
Hence, SEBI has recently released a report on recommendations that could be included under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. These suggestions pertain to making available audio/video recordings on the website of listed entity and respective stock exchanges along with written transcripts, provide number of one-to-one meetings with select investors as part of corporate governance report, etc.
In this regard, we would request you to send your inputs/ views on the proposed suggestions amendments before December 15, 2020 to firstname.lastname@example.org in the following format:
|S.No.||Recommendation in the report to which the comment pertains||Comment||Rationale for the comment||Revisions to recommendations, if any (Please provide revisions to amendments as well, if possible)|
Copy of the report is attached for your reference.
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