Mehta seeks more power for SEBI
Mumbai: Securities and Exchange Board of India (SEBI) chairman D R Mehta on Tuesday said inadequate powers had hampered the market regulator's investigations and surveillance work.
"SEBI is held responsible for bearish market conditions and also criticised for its alleged non-performance, but how do you expect us to perform in absence of adequate powers", Mehta said at a seminar on mutual funds organised by the Federation of Indian Chamber of Commerce and Industry (FICCI) here.
"Indian companies should raise the quality of their disclosures and instead of accusing the regulator, should work towards improvement of their performance and further gain of investors' confidence," Mehta said.
Back to News Review index page  

SEBI considers new mutual fund guidelines
Mumbai: The Securities and Exchange Board of India (SEBI) would consider an amendment to existing mutual fund guidelines to link an asset management company's (AMC) capital base with the quantum of funds managed by the company.
The AMCs are required to have minimum capital base of Rs 10 crore and in order to gain investors' confidence, SEBI would look into a suggestion to link capital base with corpus handled by the fund, Mehta told newspersons on the sidelines of a seminar on mutual funds organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here on Tuesday.
The asset management companies should have an adequate capital base to ensure liquidity in times of crisis, to pay off its dues, he added.
Back to News Review index page