Sebi’s HR, tech powers to be augmented: FM

Government will take all necessary steps, including augmenting human resource and technological powers of Security and Exchange Board of Ind...

Government will take all necessary steps, including augmenting human resource and technological powers of Security and Exchange Board of India (Sebi), to curb insider trading in stock markets, Finance Minister Jaswant Singh said here.

“All necessary steps would be taken to curb insider trading,” Singh told the parliamentary consultative committee, which met here to discuss the capital market situation.

He said the human resources and technological powers of securities and exchange board of India would be augmented to keep pace with the expansion of its regulatory powers.

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Admitting that the volume of trade in the Indian capital market was still “thin”, Singh said “there was a need to add substantial volume to the market.” On corporate governance, he said the issue was not limited only to regulation but to a larger effort to put in place ethical practice.

Supporting the need for quarterly disclosure of financial results, Singh said it was part of the global practice and was implemented for the interest of the investors. The members of the committee lauded Sebi for 100 per cent dematerialisation and online trading platform. Expressing satisfaction at the effective regulatory framework, which was at par with the best in the world, the committee members said the efforts should continue in this direction.

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