REGULATIONS


Moneylife Digital Team 14 January 2011
Anil Ambani and his group companies Rel Infra and RNRL settled a case of alleged violation of trading regulations with the market regulator by paying  Rs50 crore as settlement amount In what appears to be the biggest settlement through a consent order, the Securities and Exchange Board of...

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Sucheta Dalal Sucheta Dalal 13 January 2011
It is time the Standing Committee of Parliament started conducting public hearings and asked regulators to explain their failures and discussed their contribution to market development The Bimal Jalan committee, packed with government and SEBI officials, came up with a report that was so...

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Sucheta Dalal Sucheta Dalal 13 January 2011
It is now openly acknowledged that the recommendations of the Bimal Jalan Committee are biased in favour of the NSE; so, here’s how India’s monopoly stock exchange is expected to operate A rattled Bimal Jalan has reacted to the criticism about his committee’s retrograde suggestions by pointing...

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Moneylife Digital Team 04 January 2011
Apex court says SEBI can seek relevant information from Sahara group companies, but should not restrain them from raising money from capital markets In what appears to be a severe blow to the market regulator, the Supreme Court on Tuesday asked the Securities and Exchange Board of India...

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Deena Mehta 21 December 2010
The proposed rules regarding compensation to exchange executives are flawed, as are the rules for listing of exchanges and restricting their profits, and the powers to SEBI to regulate market infrastructure institutions Compensation for executives: The Bimal Jalan Committee report on ownership...

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Deena Mehta 20 December 2010
The shareholding proposals of the Bimal Jalan committee on market infrastructure institutions are biased and not justified. The report also sidetracks corporate governance issues and the developmental role of stock exchanges   The Bimal Jalan Committee report on the ownership and governance of...

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Sucheta Dalal Sucheta Dalal 17 December 2010
Vested interests in the Securities and Exchange Board of India seem set to torpedo the initial public offerings (IPOs) grading process when dozens of pressing investor issues remain unattended At Moneylife, we have long discovered that it requires years of persistent writing and advocacy to get...

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R Balakrishnan on saving  and   investing prudently 17 December 2010
Promoters are not like you and me. They have special rights that are sanctioned by the regulator “All animals are equal, but some are more equal than others.” — George Orwell, Animal Farm In a private company, a promoter can do what he wants to. But if he has public shareholders, he has to...

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Sucheta Dalal Sucheta Dalal 15 December 2010
Rumour of UK Sinha’s appointment spreads. But there are several steps in the process and only one has been taken. Remember also, that the last three chairmen were not on the “list” UK Sinha, chairman of UTI Asset Management Company, may well go on to chair the Securities and Exchange Board...

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Sucheta Dalal Sucheta Dalal 11 December 2010
Everybody has all but assumed that SEBI chief CB Bhave is not getting an extension. Will they be surprised? On Friday, 10th December, CB Bhave, the current chairman of the Securities and Exchange Board of India delivered what was considered a hard hitting piece on autonomy of regulators at the...

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Sucheta Dalal Sucheta Dalal 11 December 2010
Two agencies are quarrelling over whose job it is to fix the problem even as India boasts of being an IT powerhouse On 3rd December, the Indian media called it a "major embarrassment" that the Central Bureau of Investigation (CBI) website has been hacked by "Pakistani Cyber Army". What could be...

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Moneylife Digital Team 10 December 2010
A new bunch of equity market manipulators has been rigging and twisting stock prices at will, according to reports by the Intelligence Bureau   The 2002 securities scam masterminded by Ketan Parekh brought to light widespread manipulation in share prices. It left indelible footprints...

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Sanket Dhanorkar 09 December 2010
The market regulator SEBI recently banned Sanjay Dangi for colluding with promoters of four companies to influence share prices; however, Intelligence Bureau reports suggest that his involvement stretches way beyond these four firms Last week, the market watchdog, Securities and Exchange Board...

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Sucheta Dalal Sucheta Dalal 08 December 2010
Ketan Parekh is trading in dozens of stocks, according monthly intelligence reports. Top ministry officials have been getting these reports regularly. But why are they sitting idly, and why is SEBI keeping mum? Ketan Parekh has been banned from trading in securities from December 2003 till...

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Moneylife Digital Team 07 December 2010
Finding stock broker Deepak Jhunjhunwala guilty of indulging in price rigging and manipulation in Twenty First Century (India), market regulator bars him from taking up any new assignment for a month; will not clarify what this means In an unusual order against a stock broker, the Securities...

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Moneylife Digital Team 29 November 2010
The stock market regulator is working on a new concept based on the UID, which is being issued to 60 crore ‘poor’ Indians. This new proposal is somewhat surprising, as not so long ago the SEBI chief was lecturing mutual funds not to target the poor Nandan Nilekani, the head of the Unique...

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Moneylife Digital Team 29 November 2010
In 2007, the former RBI governor was emphatic that regulation should not smother economic growth. But in 2010, why has the Bimal Jalan Committee on stock exchanges produced such a biased report?  Just three years back, Bimal Jalan, former RBI governor, emphasised the need for the 'important'...

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Moneylife Digital Team 29 November 2010
As the debate over the right to privacy in the case of phone tapping hots up, it seems that the stock market regulator is not easily given access to phone data In the recent 2G spectrum allocation scam surrounding the former telecom minister A Raja, some journalists and corporate lobbyists are...

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Sucheta Dalal Sucheta Dalal 26 November 2010
Independent director was fed up with frequent governance issues and soaring personnel costs at the sinking bourse The Bombay Stock Exchange (BSE) is going downhill fast. The resignation of Mr Vivek Kulkarni, an ex-IAS officer is just a symptom of the serious malaise that has continued to drag...

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Sucheta Dalal Sucheta Dalal 26 November 2010
The Bimal Jalan committee on stock exchanges has delivered a set of ridiculous recommendations that is devoid of any vision. It does one thing well: shut out any new exchange and kill NSE's competitors  The Bimal Jalan Committee was appointed in February 2010 to deliberate on governance,...

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