REGULATIONS


Moneylife Digital Team 26 April 2012
AMFI chief HN Sinor has admitted that SEBI and AMFI had made a costly error in banning entry load for mutual funds. Remember, fund companies had welcomed the ban, as had mainstream media In a recent interview with Economic Times the Association of Mutual Funds of India (AMFI) chairman HN...

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Moneylife Digital Team 26 April 2012
To check the flow of illicit funds and other manipulative activities in the stock market, SEBI is planning more frequent inspection of various market entities and a new code of conduct for brokers. The regulator proposes to ask all the market entities, including brokers and mutual funds, to...

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Moneylife Digital Team 26 April 2012
SEBI has put in place rules for the use of sophisticated automated software to prevent systemic risks caused by algorithmic trading used by brokers. Algorithmic trading refers to orders on bourses that are generated using high-frequency, automated-execution logic. SEBI said that...

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Sucheta Dalal Sucheta Dalal 24 April 2012
In the past 20 years since the securities scam was exposed, radical transformation and development was followed by bumbling insularity, a near monopoly of the NSE, poor leadership and lack of vision at the BSE and an unseemly collusion has kept competition out of the capital market space

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 Audit is much more than checking the numbers. It has more to do with the application of analytical skills going beyond the books of accounts involving mere cross tally of figures. The auditor collects big money for attesting them all the same and the so-called disclaimers are mere fig...

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Moneylife Digital team 17 April 2012
A simple query to SEBI about aggregate list of assets under management was stymied as being fiduciary in nature, when parts of that information are already available in public domain. It shows SEBI’s intention to stall, rather than share information, with the public In response to a RTI...

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Moneylife Digital Team 11 April 2012
Midas Touch has argued that that it has additional information relating to consent orders The Delhi High Court (HC), on Tuesday, issued notices to the market watchdog Securities and Exchange Board of India (SEBI) and a petitioner, for impleading Midas Touch Investor Association in the...

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Sucheta Dalal Sucheta Dalal 06 April 2012
After making the same mistakes as his predecessors, Madhu Kannan has quit BSE, saddling it with an expensive and inexperienced management team On Tuesday, Madhu Kannan, Managing Director and CEO of the Bombay Stock Exchange (BSE) announced plans to quit and join the Tata Group. This was...

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Moneylife Digital Team 05 April 2012
SEBI realises too late that the company scammed its shareholders, a year after Moneylife published the story on Jay Energy and S Energies Last year, Moneylife had written a piece on the alleged fraud in Jay Energy and S Energies (Jay Energy), where its shareholders were being ripped apart by...

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Sucheta Dalal Sucheta Dalal 03 April 2012
SEBI tweaks Bimal Jalan Committee Report and makes a mess of it. The new rules may favour NSE management but the investors of NSE, BSE and aspirant MCX-SX feel let down The Securities and Exchange Board of India (SEBI) has virtually junked the Bimal Jalan Committee report on key issues,...

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Sucheta Dalal Sucheta Dalal 03 April 2012
SEBI whole-time member Prashant Saran, a former central banker, let off the group saying that the violation need not be ‘considered grave’ since it did not involve price or volume manipulation to hurt other investors’ interest – even though the bank deliberately flouted RBI norms. In a...

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Moneylife Digital Team 02 April 2012
Listing of bourses and variable pay for exchange management staff allowed The Securities and Exchange Board of India (SEBI) today misleadingly claimed that it has "broadly accepted" the Bimal Jalan-headed committee report on market infrastructure institutions (MII) submitted about...

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Sucheta Dalal Sucheta Dalal 02 April 2012
Regulators in the financial markets still don’t get what savers really need On 27th March, chief election commissioner of India (CEC) Dr SY Quraishi had Moneylife Foundation members and hundreds of others spellbound with his description of what the great Indian Election Circus is all about. A...

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Though the demat system in its present form has served the interest of large investors, it now requires improvements to make it user-friendly for the retail investors and responsive to the changing profile of a new class of investors The system of dematerialization of shares (demat accounts)...

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Moneylife Digital Team 20 March 2012
Chicago Board Options Exchange has introduced an index VVIX which track the volatility of volatility of volatility index. Financial product “innovation” and “choice” are being taken to ridiculous lengths So-called financial innovation, at least in the developed world, has grown exponentially...

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Sucheta Dalal Sucheta Dalal 19 March 2012
Goldman Sachs whistleblower’s tale should also draw attention to Indian practices which are no different On 12th March, Greg Smith made a dramatic exit from Goldman Sachs, the world’s most powerful, profitable and reviled investment bank. His letter explaining why he was quitting after...

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 Though the banking ombudsman functions well as a grievance redressal mechanism, the large of number of rejection of complaints call for a need to revamp the scheme to make it more pro-active, transparent, helpful and  responsive to meet customer needs The annual report on the performance of...

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Moneylife Digital Team 12 March 2012
Are vested interests in SEBI behind the proposed regulations to clamp down on firms like Veritas who bring out the truth in public interest? Securities Exchange Board of India (SEBI) has just announced its decision to clamp down on ‘independent research analysts’. We wonder who is SEBI after.

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Sucheta Dalal Sucheta Dalal 06 March 2012
Over the past two years, Moneylife Foundation, our not-for-profit financial literacy organisation, has realised that a big problem with policy-making today is that nobody listens to the ordinary saver.Hence, frustrated savers are pulling money out of the market and mutual funds and putting in...

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Moneylife Digital Team 02 March 2012
Media reports are not always the source of trouble for the company. But why are the exchanges not taking any action to curb such reports? The saga of companies, denying price-sensitive media reports continues and since the bourses merely act as post offices, investors remain clueless and...

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