SEBI looking to beef up insider trading norms: Sinha
27 Feb 2013
The Securities & Exchange Board of India, perturbed over rising incidents of insider trading, on Tuesday said the market regulator is setting up a committee to have a relook at the rules in the matter.
"We have regulation for prevention of insider trading. We have now decided to set up a new committee to relook at entire regulations. So the entire insider trading regulation will be revisited," SEBI chairman U K Sinha said.
"Like we had revisited the takeover code, similarly the insider trading regulation will also be revisited," he said after the opening of new local office of SEBI in Hyderabad.
The committee will study the practices that are followed in the other parts of the world and come out with its recommendations on insider trading by next year, he said.
The SEBI head said the regulator does not need any additional powers at the moment but if the committee recommends, the regulator may seek an amendment in the SEBI Act.
"We are not looking at more powers from the government.