SEBI Denies Report on Setting a Panel To Suggest Changes to SCRA
Moneylife Digital Team 17 July 2023
Market regulator Securities and Exchange Board of India (SEBI) has denied a news report about setting up a panel to suggest changes to the Securities Contract Regulations Act (SCRA).
 
In a usual press statement, the market regulator says, "SEBI has neither formed nor has considered the formation of any such committee for review of the SCRA, and there are no ongoing discussions for any enhanced prosecution powers for SEBI."
 
Last Friday, a report from the Mint stated that SEBI is planning to form an expert committee to suggest changes to the 67-year-old SCRA…". The news item further says that "…there is a discussion going on about enhanced criminal prosecution powers for SEBI - this issue is also likely to be examined by the committee."
 
SEBI, however, clarified that no discussions are going on for any enhanced prosecution powers for the market regulator.
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