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SEBI seeks more powers for speedier action

SEBI has asked the government to streamline the procedures involved in execution of its existing powers

May 29, 2013 2:02 IST | India Infoline News Service
Market regulator SEBI (Securities and Exchange Board of India) has asked the government to provide it more powers to deal with market manipulators and fast-track prosecution of the culprits.

SEBI has also asked the government to streamline the procedures involved in execution of its existing powers.

SEBI chairman UK Sinha said that the time has come for an overhaul of the regulations governing SEBI’s powers and other functions.

Besides, hundreds of entities have managed to avoid paying penalties imposed by SEBI, as the regulator does not have any direct powers to recover these penalties.

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