REGULATIONS


The SEBI chief wants to keep the no-load system in place. But it offers too little incentive for many small fund distributors and small investors The Indian mutual fund industry got caught in growing regulatory pressures, even before it grew up. The result is stagnation; the industry has not...

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The Securities and Exchange Board of India drags a report against Religare Securities through adjudication over a paltry penalty of Rs3 lakh, but seems unable to investigate case of rampant price manipulation If the Emmel Financial case makes SEBI appear investor friendly, then a 16th June...

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Yogesh Mehta, a former member broker, has for over three years been demanding information with respect to market making by the BSE. He says this resulted in a cost of nearly Rs90 crore and benefitted just a handful. The stock exchange will not cooperate, saying that it is not a public body and...

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Moneylife Digital Team 18 July 2011
More than 80 Bills are pending since 2008. There is not much hope that they will see the light of day soon The government has made a fantastic job of tabling Bills in Parliament and then sitting on them. While the scam-tainted government waits for the problems to dissolve themselves, its...

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Moneylife Digital Team 18 July 2011
According to InGovern, both Wipro and IDFC are seeking to reappoint independent directors who have served more than the stipulated nine years on their board of directors, which may affect the independence of the directors Bengaluru-based InGovern Research Services, which provides proxy...

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Will the SEBI chairman leave behind a better legacy than many of his predecessors? Three months after taking over as capital market watchdog, UK Sinha has revealed his priorities in a series of public meetings and media interactions. In effect, he has said: ‘my clock starts ticking now’. We,...

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Devarajan Mahadevan 14 July 2011
A top hedge fund, Paulson & Co, has lost some $720 million in a Chinese paper-tiger stock, Sino-Forest Afew months ago, we wrote about how hollow Chinese companies dubbed ‘fraudcaps’ are doing reverse listing on the New York Stock Exchange—right under the nose of the US market regulator. Now,...

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Moneylife Digital Team 02 July 2011
Manoj Tirodkar of GTL admits that his group needs de-leveraging, but shouldn’t regulators investigate the true extent of its borrowing and pledge of shares? Manoj Tirodkar of the Global Group of companies is no stranger to controversy. In an interview to Business Standard recently, Tirodkar...

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Moneylife Digital Team 23 June 2011
It is not just banning entry loads in haste by SEBI that has led to reduced interest in mutual funds. There are many other reasons which exchanges and SEBI tend to ignore In August 2009, then Securities and Exchange Board of India chief, CB Bhave, introduced the ban on entry load. Nearly two...

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Moneylife Digital Team 16 June 2011
Lax US laws allow scores of fraudulent Chinese companies the glamour of American listing through reverse mergers. Many are now collapsing Hundreds of small Chinese companies have entered the US markets through reverse mergers. Many of them, it appears, have phoney financials. For Chinese...

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The Institute of Chartered Accountants of India wants an explanation from the State Bank of India on the huge profit erosion in the March quarter, while it turns a blind eye to complicity of its members in cases of financial indiscipline "SBI faces queries from the Institute of Chartered...

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The recent capricious record of the SEBI top brass has shown that Indian regulators may continue with their whimsical ways if investors/savers don’t assert their rights and demand accountability from politicians  If the board of directors of a regulatory body wantonly subverts regulatory...

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Moneylife Digital Team 02 June 2011
The SEBI chief is worried about poor retail participation. The regulator and the exchanges are alone responsible for this. Will anything change? The Securities and Exchange Board of India (SEBI) has finally woken up to the fact that it has fallen short in its key role to develop the capital...

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Moneylife Digital Team 27 May 2011
The Reserve Bank of India has written letters to several banks because they have crossed the limit of instruments dishonoured under the Electronic Clearing Service (ECS); 3%-5% is the acceptable apex bank norm—in a few cases, the percentage of dishonoured instruments under ECS has been as high...

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The three cases described in separate news reports today, underline the continuing worries over corporate checks and balances News reports today highlighted cases against three big names in the Indian corporate world that should be a wake-up call for companies, auditors and regulators. They...

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Moneylife Digital Team 26 May 2011
The records maintained by the Central Registry will be available for search by any lender or any other person desirous of dealing with the property. Availability of such records would prevent frauds involving multiple lending against the security of same property, the RBI said The Reserve...

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Moneylife Digital Team 20 May 2011
Two IPOs have just failed, possibly because the “market help” was not available. The bigger issue is why are the regulators so silent, given that we have had such a huge IPO scam in 2005 which involved banks, depositories and brokers? Yesterday, (Two failed IPOs show that manipulators have...

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Moneylife Digital Team 19 May 2011
In 2008, the apex bank had clearly specified the rules and regulations on the addition or deletion of a joint account-holder’s name under specific circumstances. However, this rule is not being followed  Reserve Bank of India regulations clearly specify that a bank has to maintain an account...

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Moneylife Digital Team 19 May 2011
The market regulator’s rules which aim to protect investors are toothless, because they don’t take into account the ground realities The attempts by the securities market regulator to curb malpractices such as the misuse of investors’ funds, by tightening running account authorisation and other...

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The action by the RBI to supersede the board of directors of the MSC Bank and to appoint administrators has highlighted the need to bring all co-operative banks, a majority of which are controlled by politicians, under the central bank's direct control Over the weekend, the Reserve Bank of...

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