SEBI Chair bats for speed amid criticism of separation of powers
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓SEBI Chairperson Tuhin Kanta Pandey defended the regulator’s powers on Wednesday in Mumbai.
- ✓Addressing concerns about market accountability, he said, “This regulatory systems have been designed...
- ✓in order to serve a certain purpose of the market because of the need to respond very very quickly.” SEBI also plans to delist shell companies.
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
SEBI Chairperson Tuhin Kanta Pandey underlined the need for speed in preserving market accountability amid criticisms of concentration of power with the market regulator against the backdrop of the Securities Markets Code (SMC).
Speaking at a media event at Mumbai on Wednesday, he responded to queries on what was SEBI’s stand with respect to SMC’s provisions that capped SEBI’s ability to spend money from its general fund. While declining to take a stand on it, Pandey said that SEBI had submitted its responses to the Parliament.
Separation of powers
Further he commented on the criticism that SEBI was in contravention of separation of powers, which is a basic structure of the constitution, by being both making rules, administering them and penalising violators.
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