Indian market is not a casino: Sebi
“We have now introduced a sophisticated surveillance mechanism. Every day we are getting over 100 alerts... There are teams working on each alert. Wherever we find the alerts have to be taken to the stage of enforcement or further action, those are being taken,” said UK Sinha, the chairman of Securities and Exchange Board of India (SEBI).
Speaking at an investor conference organised by Assocham, Sinha said people should not think that the Indian market is a “casino” and one can get away easily after doing any kind of manipulation.
“The concern that the Indian market is a casino and you can do anything and get away with it... I would like to assure you that the worry that the market is well regulated or not — it is definitely not on the side, which will allow things to happen without getting noticed by the regulator. I’d rather say it is at the other extreme,” he said.
Meanwhile, the Sebi chief also hinted that the ‘safety net’ mechanism in initial public offers (IPOs) would be implemented soon and the framework would be similar to that proposed in the discussion paper floated in September last year.
“The version which is in the public domain, I would say it’s a very
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