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TSS Consultancy Launches Disclosure 360 preventing Insider Trading
TSS Consultancy has launched Disclosure 360, a new technology product designed to simplify insider trading disclosures and manage Unpublished Price Sensitive Information (UPSI) in compliance with Prevention of Insider Trading (PIT) Regulations. The solution targets SEBI and IRDAI-regulated entities, listed companies, and connected persons such as vendors and service providers.
The launch event, hosted by TSS Consultancy, featured Mr. Sivasubramanian Ramann, Former CMD of SIDBI and Former Executive Director of SEBI, as the chief guest. Representatives from NSDL and prominent stock brokers like HDFC Securities, Groww, and IDFC Bank also attended. The event drew 335 delegates from 123 institutions, including exchanges, banks, depositories, listed companies, audit firms, law firms, stock brokers, and CA and CS firms.
Chief guest Sivasubramanian Ramann said, “The interconnectedness of companies today is fairly large and complex. Each company works with hundreds of vendors with access to price-sensitive information, which they are obligated not to use. However, compliance officers have no way of knowing if price-sensitive information about their company is being used by their vendors for trading, until now. Disclosure 360 empowers compliance officers to pull data from software about the vendor and their families. Ultimately, it is about providing them with the next level of hygiene to ensure that they can safeguard their companies from reputation risks of crimes like insider trading. As regulators, we believe Reg-tech companies like TSS are ushering in a necessary change by providing capital markets, listed companies, MSMEs, and other stakeholders with an important database such as Disclosure 360 and TrackWizz leading to significant cost savings and legal damages."
Disclosure 360 is a platform designed to streamline information access and simplify data collection by integrating tightly controlled processes. The system eliminates the need for user data submissions, facilitating informed decision-making.
Sagar Tanna, Founder & CEO, of TSS Consultancy, says, “TSS has always stood at the forefront of fighting financial crimes. Our products targeting anti-money laundering, client onboarding, and KYC compliances have been designed keeping in mind the demands of the BFSI sectors and regulators. Our new wholly-owned subsidiary Disclosure 360 Solutions P Ltd focuses on disclosures, beginning with Insider Trading and UPSI management which is a very onerous and extremely widespread compliance challenge. 75 of the 152 investigations done by SEBI are on insider trading (report 22-23).”
Earlier this week, SEBI proposed expanding insider trading rules to include more relatives as 'connected persons.' The new definition aims to cover a broader range of family members who might have access to sensitive information, thereby tightening regulations to prevent insider trading.
TSS aims to make Disclosure 360 accessible to firms of all sizes and environments. To achieve this, TSS will leverage existing client relationships, offering insider trading solutions to ensure current clients benefit from Disclosure 360. Additionally, Disclosure 360 will target vendors and service providers to listed companies, addressing the growing need for insider trading compliance in this new client category.