The board of market regulator Sebi will discuss the possible changes on delisting in its next meeting, chairman Madhabi Puri Buch said on Thursday. She added that in the next meeting, which is scheduled for December or January, the management of the market regulator will also present changes in internal trading standards before the board.
“There was a popular belief that we would never revise the delisting regulations and we would always stick with the reverse book building process. We have a consultation paper that has been floated, we have received many suggestions and at the next board meeting we are. taking that proposal to our board,” said the president of Sebi, Madhabi Puri Buch, addressing an event organized by industry body Ficci.
The Sebi chairman mentioned that it is widely believed that Sebi is “very dogmatic about insider trading”, but the market regulator has taken steps and initiated consultations to revisit the insider trading norms. She also added that to operationalize regulations, Sebi uses data and backtests the data. The president emphasized that no regulation will come out without data and its analysis.
A more interactive strategy
Madhabi Puri Buch mentioned that the regulatory body is embracing a more interactive strategy to formulate regulations within the rapidly changing market environment. She emphasized that of the 167 circulars published last year, about a third underwent public consultations.
The chairman gave an insight into the most recent SEBI status report, highlighting key aspects such as data management and openness within the financial markets.
“Transparency is very important to build trust in the market, no one disputes the need for transparency. There are many questions about how to implement transparency. SEBI boss says that the matter is with the entities and it does not end with the death of the person, we are working according to the committee formed by the court, we also distributed the funds to the people (investors) who had the proof. of investment,” she said.
(With inputs from agencies)
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Updated: 16 Nov 2023, 22:53 IST