C B Bhave, chairman and managing director of National Securities Depository Ltd (NSDL), is believed to be leading the race for the sixth chairman of the Securities and Exchange Board of India (Sebi).
Market regulator Securities and Exchange Board of India proposes to introduce Indian Depository Receipts in the Indian capital market by 2007, Sebi Chairman M Damodaran said.
Stay orders by courts against Sebi's order in the IPO scam would not hamper its investigations into malpractices in public issues, Sebi chief M Damodaran said.
The Securities and Exchange Board of India will increase overseas participation in the Indian stock markets and is planning two specific measures in this regard, Sebi Chairman M Damodaran told Business Standard in an exclusive interview.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
The announcement made by Sebi chairman M Damodaran that new rules on Offshore Derivatives Instruments such as PNs have come into effect in-line with the proposals made last week has put to rest all the confusion over the whole issue and normalcy is set to return to the bourses, a broker said.
"Whatever may be the political undercurrents, the economy, and the markets, are bound to go forward at its own pace. It will get bigger and better. Our challenge is to keep it safe (for the benefit of investors)," the Sebi chief said.
The Securities and Exchange Board of India will put in place a comprehensive Integrated Market Surveillance System by February-March as part of efforts to keep a better vigil on the sudden surge or fall in share prices.
Sweeping reforms mooted; feedback open till Aug 27.
Ruling out any relaxation in regulations, market regulator SEBI on Saturday said it will soon allow real estate funds, short selling by big investors and a system of stock lending and borrowing.
Hinting at action against non-complying companies, Securities and Exchange Board of India Chairman M Damodaran said on Thursday the regulatory body was 'barking so far but will bite soon.'
Sebi has signed an MoU with its Pakistani couterpart to enhance cooperation between the two countries.
Sebi has taken note of mis-selling in the financial sector and is planning to regulate the distributors, the only unregulated part of the MF industry.
Most independent directors have mastered the art of nodding whenever the chairman says anything.
With the Sensex crossing the landmark of 9,000 points on Monday, finance minister P Chidambaram said the market movement was orderly, and reflected the strong fundamentals of the economy.
The move, if brought into effect, will substantially reduce the burden on the judicial system, while opening a window of opportunity for expediting court cases.
Market regulator Securities and Exchange Board of India on Saturday said it has received several letters from Reliance Industries vice-chairman and managing director Anil Ambani
The chairman's post will soon fall vacant, but that's not the only one that needs to be filled.
Noted banker Deepak Parekh on Thursday pitched for simpler corporate governance norms that focus more on trust than just compliance, saying economics and ethics are not trade-offs but complementary. Behind each financial crisis there is a governance failure but it is the entire system that gets impacted, because an eruption of a corporate or financial crisis almost always means a tightening of rules and regulations and increased compliance for all, he said. The HDFC chairman, who was addressing a seminar on corporate governance organised by former Sebi chairman M Damodaran's advocacy Excellence Enablers in Mumbai, stressed that the ultimate objective should be that corporate governance systems must become simpler and not more complicated.
Asset management firms relying heavily on liquid fund investments.
The govt is likely to announce the new Sebi chief by Feb 10 as interviews for the position is over. Six people have been interviewed.
SEBI revealed its plans of introducing two new products within a month.
The feud between Gangwal and Bhatia came into the public after the former, in July, wrote to markets regulator Sebi seeking its intervention to address alleged corporate governance lapses at the company.
Gangwal said he will not vote in favour of resolutions that intend to expand the size of the board to 10 members. Gangwal wants a seven-member board.
Regulators have to essay a facilitating role while simultaneously ensuring that rules are simple, easy to understand and help in orderly conduct by corporates, the Securities and Exchange Board of India chairman M Damodaran said.
As a part of efforts to curb intra-day volatility in share prices, SEBI on Tuesday announced a separate 'Block Deal Window' at the NSE and BSE to execute such big deals transparently within half-an-hour of morning trade.
An eight-member jury, chaired by M Damodaran, the former chairman of Sebi, IDBI and UTI, nominated the finalists who will be felicitated on February 7.
This route accounts for Rs 2.75 lakh crore of FPI holdings.
On December 17, Sebi put out a note on the introduction of new products in the futures and options segment. That was followed by permission for short-selling by institutional investors on December 20, stating that the securities lending and borrowing mechanism would be put in place along with short-selling, which will begin from February.
Is this year's budget going to encourage savings and investments or is it going to act as a dampener?
Dutta was president of United Airlines, where he worked for nearly twenty years. He also served as the president of Air Sahara for two years. Moreover, he was an advisor to the restructuring of both Air Canada and US Airways.
The genesis of the arbitration lies in a bitter public battle that began in July when Rakesh Gangwal wrote to capital market regulator Sebi alleging lack of corporate governance in the company. He alleged that Rahul Bhatia, who holds controlling power of the company, had used it to execute questionable related-party transactions.
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