Recently, SEBI has introduced a very pragmatic method of drafting standards for implementation of a regulation. In a novel, unique and constructive move it has invited three of the main industry associations to together form an Industry Standards Forum which will assist in designing the implementation standards for some of the proposed regulations. The Forum will work in consultation with SEBI, and the two Stock Exchanges will coordinate these initiatives. This pilot initiative of SEBI is clearly a paradigm change in regulation implementation. It will allow experts in various industry bodies to contribute to the design of implementation standards for various regulations. The involvement of industry bodies is indeed path breaking. The first regulation that has been worked upon by the Industry Standards Forum on a pilot basis is pertaining to rumour verification which was to come into effect from October 1, 2023. This regulation required some of the listed companies to confirm/ deny