Speaking in the celebration of 150 years of BSES, the head of the Board of Exchange of Securities of India (Sebi) said that the role of the regulator is not only to guarantee market integrity and promote confidence, but also market development.
The Sebi chief said: “Therefore, we must advance with the optimal regulation approach that is aware of the cost of compliance, while exploring alternatives to achieve our goals.”
“We will seek to review our existing regulations, eliminate those that are outdated and rationalize them may be necessary,” added the president of Sebi.
Pandey added that Sebi will intensify his consultations with the interested parties in this regard to prepare a pragmatic roadmap to achieve his objectives of simplified but effective regulations.
Moreover, under the Stability and Financial Development Council (FSDC), chaired by the Minister of Finance, there is a robust institutional mechanism so that financial regulators meet for the harmonization of policies and regulations, the ease of rapping the cost of expensive costs.
“It is also essential to accelerate Sebi ecosystems, continuous efforts for investors education and awareness, even in cyber fraud and fraudulent investment advice.
Previously in his speech, Hey also the growth trajectory of the financial markets of India.
He said that Indian markets routinely handle around 2,000 million orders and transactions, one of the highest volumes in the world.
In just five years, the number of unique investors of mutual funds has grown from 2 million rupees to 5.4 million rupees. Hey pointed out about the strong increase in demat accounts, investment in mutual funds linked to equity and increased FPI investments in India.
“Sustained capital formation is indispensable for our collective aspiration of Viksit Bharat. We need safe and efficient capital markets where informed investors and credible emitters join UDOPALLY regulated ecosystems.
While we never become complacent, all interested in our capital markets can pride in the remarkable trip we have gone through over the years, “he said.
In his speech, Hey also emphasized the importance of expanding the education and awareness of investors, improving cyber resilience, maintaining robust risk shock absorbers, quickly detecting and punishing fraudulent behavior, and governing the highest discussion.
“Short -term or narrow commercial objectives should never eclipse these fundamental objectives of public interest,” he warned.
