Government to introduce Sebi laws amendments bill in parliament: Government will introduce tomorrow in Parliament the "Bill further to amend the Securities and Exchange Board of India Act, 1992, the Securities Contracts (Regulation) Act, 1956 and the Depositories Act, 1996", to amend the Securities and Exchange Board of India (Sebi) Act that would give more powers to the capital market regulator Sebi. As per the amended law, Sebi can regulate any money pooling scheme worth Rs 100 crore or more and attach assets in cases of non-compliance, it said adding the Sebi Chairman would have the authority to order "search and seizure operations". The market watchdog would also have powers to seek information, such as telephone call data records, from any persons or entities in respect to any securities transaction being investigated by it. The amendments would clear the air over regulatory gaps and overlaps with regard to types of instruments used in raising funds.
Posted on: Sun, 11 Aug 2013 14:40:47 +0000
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