Sebi rules to be made simpler: Damodaran

Mumbai, March 23 | Updated: Mar 24 2005, 05:45am hrs
Securities market regulator Securities and Exchange Board of India (Sebi) is in favour of making its regulations simpler so that there is no cause for confusion for investors. This was stated by newly appointed chairman M Damodaran at an international seminar on Emerging Capital Markets in Mumbai on Wednesday.

Delivering the inaugural address Mr Damodaran said, at Sebi there are a mind boggling number of regulations but one of my first and foremost tasks would be to make them simpler so that people like me can understand it in a better way.

He said, there has to be clarity, certainty and continuity in the regulations and they should play a conducive role for the regulator to achieve its goals of protecting investors interest as well as developing the market.

In this regard he said that Sebi has already undertaken a comprehensive review of its various regulations and an internal committee is looking into the matter.