Crisil Approves Amended Code of Fair Disclosure; Effective July 21, 2026
Crisil Limited's Board approved an amended Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information. The updated code is effective July 21, 2026. It mandates prompt and universal disclosure of UPSI and defines 'legitimate purposes' for information sharing.
This is an update to an existing policy for fair disclosure of unpublished price sensitive information, which is a standard regulatory requirement. It does not introduce any new business initiatives, financial changes, or strategic shifts that would have a material impact on the company's operations or stock.
The announcement is a routine regulatory filing regarding an updated internal code of conduct for fair disclosure of price-sensitive information. It does not contain any new financial results, business developments, or events that would significantly impact the company's stock price or market perception.
Crisil Limited has announced the approval of an amended 'Crisil Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information' by its Board of Directors. The updated code, effective from July 21, 2026, supersedes previous versions and aligns with SEBI (Prohibition of Insider Trading) Regulations, 2015.
The code outlines principles for prompt and universal dissemination of unpublished price sensitive information (UPSI) to avoid selective disclosure. It designates the Chief Financial Officer as the Chief Investor Relations Officer responsible for information dissemination. The company commits to providing fair responses to market queries and ensuring information shared with analysts is not UPSI.
Further, the policy emphasizes handling UPSI on a need-to-know basis for legitimate purposes, including sharing with external advisors, intermediaries, and business partners. A structured digital database will be maintained to track the sharing of UPSI. The policy will be reviewed at least once every three years, with the last review and update occurring on July 21, 2026.
Annexure A details the 'Policy for Determination of Legitimate Purposes', defining UPSI and outlining various scenarios where sharing of such information is permissible in the ordinary course of business, such as for advice, consultation, valuation, fund raising, and fulfilling statutory or disclosure obligations.
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Crisil Limited filed this with the NSE as a statutory disclosure, categorised under corporate governance report. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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