REGULATIONS


Debashis Basu Debashis Basu 26 November 2010
The report of the Jalan committee, packed with regulatory officials, is a throwback to the days of licence-control raj. The hidden agenda: put off new entrants and favour the current monopolist The Bimal Jalan committee set up to 'Review Ownership and Governance of Market Infrastructure...

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Devarajan Mahadevan  and   Pratibha Kamath 15 November 2010
Recent media reports suggest that the market regulator has ‘enhanced its surveillance’ for possible violations of rules prohibiting insider trading. However, despite the repeated instances of price manipulation and insider trading that we have constantly been trying to highlight, SEBI has chosen...

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William Gamble William Gamble 15 November 2010
Insider trading in the US may have taken place in 41% of the takeovers. However, the prohibition of insider trading has become quite common. Of the world’s 103 markets 87 have laws against insider trading, but like the US many are ineffective In the United States the concept of insider trading...

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Sucheta Dalal Sucheta Dalal 11 November 2010
A letter of objection to senior-most executives in the finance ministry and the apex bank, documenting alleged performance failures and ignoring of governmental appointment norms, may queer the pitch for the selection of the central bank’s new DG  While RBI (Reserve Bank of India) Deputy...

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Sucheta Dalal Sucheta Dalal 03 November 2010
The RBI had better not shirk its responsibility and get down to regulating MFIs Even Suresh Gurumani would not have suspected that SKS Microfinance’s arrogance in sacking him within two months of a hugely successful IPO (initial public offering) would rip the halo from the company and the...

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Moneylife Digital Team 01 November 2010
Market participants struggling under SEBI’s autocratic rules have been left smarting as the market regulator proposes unprecedented doubling of salary for its employees with retrospective effect Market regulator Securities and Exchange Board of India (SEBI) has proposed to almost double the...

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William Gamble William Gamble 01 November 2010
During times of uncertainty banks do not want to lend and consumers do not want to borrow. Increasing liquidity does not necessarily result in increasing demand All of our great and good leaders like to exercise power. The greatest power is economic power and as such governments are drawn to...

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Munira Dongre 01 November 2010
Analysts and economists at brokerages expect interest rates to rise by a minimum 25 basis points at the RBI’s half-yearly review tomorrow The Reserve Bank of India (RBI) has increased the repo and reverse repo rates five times since March this year - repo rate by 1.5% and the reverse repo rate...

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Moneylife Digital Team 28 October 2010
Sun-Plant Agro, whose application was rejected by SEBI and was supposed to wind up its scheme in 2003, continued to raise funds under the guise of ‘sale of plants’, which was just a collective investment scheme Market regulator Securities and Exchange Board of India (SEBI) has asked...

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Moneylife Digital Team 27 October 2010
Minority shareholders have alleged that Bharti Airtel got away by avoiding open offer of Rs30,000 crore thanks to SEBI’s flexible application of takeover norms A few minority shareholders of Bharti Airtel Ltd have approached the Securities Appellate Tribunal (SAT) for taking action against the...

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Moneylife Digital Team 21 October 2010
In the past, companies have left out significant information like pending litigation against them from their red herring prospectuses. Coal India, however, was pulled up just for a typographical error Has the Securities and Exchange Board of India (SEBI) been unduly harsh with Coal India Ltd...

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Moneylife Digital Team 18 October 2010
MCX-SX, promoted by Financial Technologies, was prevented from launching equities trading in India. But it faced no troubles in launching two new exchanges in six weeks, first in Singapore and then in Mauritius Three weeks after the Indian regulator Securities and Exchange Board of India...

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Sucheta Dalal Sucheta Dalal 09 October 2010
We have frequently pointed out that the National Stock Exchange (NSE) is a secretive organisation. The transparency of its trading platform does not extend to its own operations. It is fighting a hard, legal battle to avoid application of the Right to Information (RTI) Act. It lost a case in the...

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Sanket Dhanorkar 08 October 2010
Mercer, the leading global consulting firm, which had advised the pension regulator on its pension offering, feels that PFRDA has missed out on the big picture in designing the NPS architecture While the new setup at the pension regulator, Pension Fund Regulatory and Development Authority...

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Sucheta Dalal Sucheta Dalal 08 October 2010
While on the ambiguous governance standards at SEBI, most people have forgotten Dr Mohan Gopal, the SEBI director who was part of the two-member bench (former RBI deputy governor Leeladhar was the other member), whose order was discarded, discredited and declared ‘null and void’ by the SEBI...

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Sucheta Dalal Sucheta Dalal 06 October 2010
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...

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Moneylife Digital Team 05 October 2010
SEBI’s knockout punch to mutual fund distributors in August 2009 has left a trail of tribulation across all intermediaries in the mutual fund industry. We put together the actions and their impact to highlight why even a raging bull market has failed to enthuse the fund industry The Securities...

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Sucheta Dalal Sucheta Dalal 01 October 2010
SEBI’s rejection of MCX-SX’s application to start equity trading, not only stifles much-needed fresh thinking, competition and innovation, but draws attention to SEBI’s own sordid ethical standards That the Securities and Exchange Board of India (SEBI) rejected MCX Stock Exchange's (MCX-SX)...

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Sucheta Dalal Sucheta Dalal 23 September 2010
Why CB Bhave’s tenure as SEBI chairman will go down as among the worst in nearly two decades By his own admission, Bhave often looks in the mirror to ask: "Am I proud of what this guy did today?" The answer invariably is a resounding yes, Bhave had told this newspaper some time ago. He...

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Moneylife Digital Team 23 September 2010
In a freewheeling interview to Moneylife editors Sucheta Dalal and Debashis Basu in Hyderabad recently, J Hari Narayan, chairman, IRDA, spoke on key insurance-related issues On the tussle between insurers and hospitals. The hospital costs are a major issue. The total healthcare spending in...

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