SEBI to review delisting process, insider trading norms in December meeting: Madhabi Puri Buch

The board of market regulator Sebi will discuss the possible changes to delisting at its next meeting, chairman Madhabi Puri Buch said on Thursday. She also said that in the next meeting, scheduled for December or January, the management of the market regulator will also present changes to insider trading norms before the board.

“People were of the opinion that we would never review the delisting regulations and that we would always stay with the building process in reverse. We have a consultation paper that has been floated, we have received a lot of feedback and in the next board meeting we are taking that proposal to our board,” Sebi chairman Madhabi Puri Buch said while speaking at an event organized by the industry body Ficci.

The Sebi chairman mentioned that Sebi is widely believed to be “very dogmatic on insider trading” but the market regulator has taken steps and initiated consultations to review the norms related to insider trading. She also said that Sebi is using data and back-testing the data to drive regulations. The chairman emphasized that no regulation will come out without data and its analysis.

A more interactive strategy

Madhabi Puri Buch stated that the regulatory body is adopting a more interactive strategy to formulate regulations within the rapidly changing market environment. She highlighted that out of the 167 circulars issued last year, approximately one third of them went through public consultations.

The chairman gave an overview of the latest SEBI status report, which highlighted essential aspects such as data governance and openness within the financial markets.

“Transparency is very important to build confidence in the market, there is no objection to the need for transparency. There are many questions about how to implement transparency. SEBI CEO says that the issue is with the entities and it does not end with the death of the person, we are working as per the committee set up by the court, also we have distributed the funds to the people (investors) who had the proof. investment,” she said.

(For agency input)

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Updated: 16 November 2023, 10:53 PM IST

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