SEBI has a mechanism of consultative regulatory decision making, says Sinha at IMC
04/08/2013

Mumbai, 3 April 2013: Indian Merchants’ Chamber organized a Seminar on ‘Investment Outlook 2013’ at the Convention Hall of Bombay Stock Exchange today. Mr. U. K. Sinha, Chairman, Sebi, was the Chief Guest at the inaugural session.

Online PR News – 08-April-2013 – Mumbai/Maharashtra – Mumbai, 3 April 2013: Indian Merchants’ Chamber organized a Seminar on ‘Investment Outlook 2013’ at the Convention Hall of Bombay Stock Exchange today. Mr. U. K. Sinha, Chairman, Sebi, was the Chief Guest at the inaugural session. “Sebi has taken note of dubious schemes floated across the country by various financial institutions to create wealth by cheating investors. We are trying to create awareness for the benefit of investors about these schemes. Seminars like these will also guide the investors in the right direction,” said Mr. Sinha addressing the audience.
“As a regulator, it is very important for us to restore and retain the investor’s trust in the market. Otherwise, the investment in the market will erode,” added Mr. Sinha. “Sebi has a strong mechanism of consultative regulatory decision making. If you evaluate any of our regulations, evaluate them on a longer term basis and come to us with your suggestions, we will make positive changes,” Mr. Sinha assured.
Sebi chairman also said there had been multiple examples of mis-selling and efforts were needed to create awareness among investors and introduce regulations to curb abuses. Sebi’s role was to ensure that products sold to investors are legal and that the regulator will need the help of state governments and the investment community.
In his welcome address Mr. Niranjan Hiranandani, President, IMC said, “the Current Account Deficit remains India’s biggest worry and it is composed mainly of gold and oil imports. The monitisation of gold imports will help to cut the CAD by half.” He also made a plea for introducing REITs, an idea whose time has now come to India.
Earlier, Mrs. Deena Mehta, Chairperson, Capital Market Committee, IMC explained the vision of IMC Capital Market Committee. “The committee endeavoured to bring markets and products to investors and bridge the gap between the regulator and intermediaries. This objective helped in restoring trust in our financial system,” said Mrs. Mehta. ‘Regulatory Impact Assessment – Cost-Benefit Analysis of Regulations,’ a research paper by Finsec Law Advisors and another research paper called ‘Consent Settlement framework’ were released at the inaugural session.
This was followed by Sessions on Commodity Market, Real Estate Sector, Currency Market, Debt and Equity sectors. Mr. Ashishkumar Chauhan, MD & CEO, BSE Ltd., Mr. Sumesh Parasrampuria, Director, MCX, Mr. Ramesh Abhshek, Chairman, FMC, Mr. T. S. Kalyanaraman, CMD, Kalyan Jewellers, Mr. Keki Mistry, Vice Chairman & CEO, HDFC Ltd., Mr. Jerry Rao, Executive Chairman, Value and Budget Housing Corporation, Mr. V. K. Sharma, Director & CEO, LIC Housing Finance Ltd., Mr. U. Venkataraman, CEO -Currency Derivatives Segment, & Whole Time Director, MCX Stock Exchange Ltd., Mr. B. Prasanna, MD & CEO, ICICI Securities Primary Dealers Ltd., Mr. Sashi Krishnan, Chief Investment Officer, Birla Sun Life Insurance, and Mr. Ravi Mathur, Secretary Disinvestment, Ministry of Finance were the main speakers among others at various sessions.
Mr. S. N. Ananthasubramanian, President, The Institute of Company Secretaries of India proposed the vote of thanks.