Sebi bats for ‘optimal regulation,’ likely to revamp norms
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The Securities and Exchange Board of India (Sebi) is considering a broad regulatory overhaul to make compliance less onerous and norms more relevant, chairman Tuhin Kanta Pandey said in an interview, The newly appointed regulatory chief said the market watchdog is in discussions with the Reserve Bank of India (RBI) and the government to ease investment rules for overseas funds and foreign individuals in India's stock market. He defended the recent regulatory measures to temper heightened activity in the equity futures and options segment. Pandey emphasised the need for "optimal regulation" and doing away with "micromanagement." Toward this end, one of Sebi's priorities will be a review of existing regulations. The Sebi chief said the regulator is working with RBI and the Department of Economic Affairs (DEA) to consider allowing fungibility between foreign portfolio investment (FPI) and foreign direct investment...