The market regulator has recommended revising the definition of linked person in the ban on insider trading (PIT) standards in an attempt to prevent cases of front running in the capital markets.
Because of their connection to the company, the connected person is tied to someone who has access to Unpublished Price Sensitive Information (UPSI). Despite not having a formal job inside the organization, this linked person’s strong relationships to others within the corporation provide them access to confidential information.
In order to broaden the definition, SEBI has suggested adding the following to the list of linked people: spouse, siblings, siblings of a spouse, siblings of parents, and any
