To streamline the disclosure requirements, Sebi has proposed mandating the top 250 listed companies to confirm or deny any information reported in the mainstream media, which may have a material effect on the listed entity.

Sebi has suggested reducing the timeline to 12 hours from the occurrence of events or information from 24 hours at present for making a disclosure to the stock exchanges.

To bring uniformity in the “Materiality Policy” across listed entities, it has been proposed quantitative criteria of minimum threshold for disclosure of events based on the value of the expected quantitative impact of the event, Sebi said in its consultation paper made public on Monday.

These proposals are aimed at streamlining the disclosure requirements for material events or information required under LODR rules and keeping pace with the changing market dynamics.

The regulator has sought comments from the public till November 27 on the suggestions.

At present, a listed entity may on its own initiative, confirm or deny any reported event or information to stock exchanges.