Dubious regulator

SEBI’s rejection of MCX-SX to start equity trading is the latest in a long list of sordid actions

That the Securities and Exchange Board of India (SEBI) rejected MCX Stock Exchange’s (MCX-SX) application to start the equity segment was no surprise. Nor is the MCX-SX’s decision to fight back. The regulation of demutualised bourses remains a contentious issue, despite being referred to...

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