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SEBI seeks quarterly meetings of state panels

SEBI has sought meetings of state-level coordination committees every quarter to curb illegal fund pooling acts

March 20, 2014 1:42 IST | India Infoline News Service
In order to tackle the issue of illegal fund pooling activities, SEBI (Securities and Exchange Board of India) has sought meetings of state-level coordination committees every quarter.

Speaking at the inauguration of regulator's local office at Ranchi, SEBI chairman UK Sinha said the periodicity of state-level Coordination Committee meetings should be increased to once a quarter to curb the issue of illegal fund mobilisation activities by unscrupulous firms.

According to Sinha, such committees should be chaired by the Chief Secretary of a state.
The Ranchi office would work towards spreading financial literacy and redressing investor grievance in the region.

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