His comments came in response to a query on whether Securities and Exchange Board of India would be initiating action against MCX-SX which rejigged its board yesterday amid continuing payment crisis at its group firm National Spot Exchange Ltd.
Under the new system, put in place as per recommendations of an independent consultant, this 12-month target would apply to all the cases where an investigation has been initiated this year onwards, Sebi Chairman U K Sinha said.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
While the regulator has set up a group to look into trade annulment framework, it is also probing whether there was any breach of regulation at the broker or exchange level.
The education would help investors in protecting them from volatility in the equity market and also reduce volatility in individual stocks.
The chairman's post will soon fall vacant, but that's not the only one that needs to be filled.
The chairman said if companies want to raise money, they should follow rules of the game.
Sinha, who is steering Sebi efforts to tackle the ponzi menace, said that in regions like West Bengal and North East -- where penetration of banking services is low -- have seen a larger number of people getting trapped in illegal money pooling schemes that promise high returns.
The EPFO, which has 50 million subscribers, provides annual interest of 8.75 per cent on provident fund deposits.
Measures announced by Sebi will stimulate financial savings among households.
Regulators in the US and some other countries have often used tapped phone conversations to prove insider trading and other charges, including in the famous Rajat Gupta case.
The capital markets watchdog has asked the government to empower it to carry out search and seizure operations, to attach properties and to ask for information and records for all relevant entities.
The capital markets watchdog had set up an expert panel in March to suggest new measures to regulate insider trading.
Sinha recalled how Sebi started functioning as an independent regulator in 1988, when its first Chairman S A Dave picked up six officers from IDBI and began functioning from IDBI's office itself.
Sebi Chairman U K Sinha has often chastised listed companies for not having enough women on their boards.
The final guidelines should be there in 3-4 months.
The National Company Law Tribunal (NCLT) on Thursday allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a $10-billion media company, the biggest in the country. The tribunal also dismissed all objections regarding the merger.
Sebi has put in place a strong deterrence to check any misuse of participatory notes.
Last month, the Sahara Group challenged a Supreme Court order which had asked it to refund Rs 24,000 crore (Rs 240 billion) to around three crore (30 million) investors, to a larger bench.
More than 900 entities have been banned from the capital markets by Sebi
Apart from consent orders, it has been decided to take fast and stringent action in surveillance and investigative cases in the coming months.
Market regulator Sebi on Friday said it is yet to receive "all papers" in the high profile Sahara case where the Supreme Court has directed two group companies to refund money to bond holders.
Due to present loopholes in the legislations, it is difficult for the regulator to curb dubious investment projects.
He is targeted because he is gone against corportates, says G E Vahanvati.
The latest request has been made by Sebi chairman U K Sinha after his predecessor C B Bhave failed at least twice in his attempts to secure an authorisation for Sebi to tap phone for its surveillance and investigative actions.
Summing up the year gone by, Sebi Chairman U K Sinha told PTI that the regulator was also able to provide clarity and a direction to the market in areas like corporate governance and investor protection during 2013.
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The open offer for minority shareholders would need to be made even if the 'control' has been acquired without crossing the threshold shareholding limit (25 per cent), Sebi Chairman U K Sinha said.
Besides bank accounts, Sebi has also in various proceedings ordered depositories, NSDL and CDSL, to attach the demat securities accounts of the erring entities.
The Supreme Court has dismissed many petitions in the past but rarely has the country's apex court accused the petitioners of being "stool pigeons" of powerful corporate lobbies.
The decision was taken at a board meeting of Sebi held in Mumbai.
Regulator proposes mutual fund model for infrastructure debt funds.
Sebi had last year put in place a separate regulatory regime for REITs.
Sebi has directed promoters of all listed private sector companies to ensure they comply with minimum public holding of 25 per cent by June 2013.
Expressing concerns over a fast-growing grey market in the financial sector, Sebi chief U K Sinha called for a single watchdog to regulate all entities collecting public money under various illegal means.
Under the new norms, 75 per cent shares can be reserved for institutional investors
The new norms were cleared by the Securities and Exchange Board of India in New Delhi on Thursday and the relevant provisions would be incorporated in the listing agreement soon, Sebi Chairman U K Sinha said.
Market regulator Sebi has set a one-year target to complete investigations, saying that the long-drawn probe processes are a thing of past and manipulators can't escape the long arm of the law.
The regulator also said that it would have a re-look at the delisting guidelines.
Securities and Exchange Board of India would come out with transparent guidelines on search and seizure powers of the regulator along with procedures for investigating companies for insider trading and market misconduct.
As per norms these companies should have minimum public float of 10 per cent by August.
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