Queries relating to SLB, KYC raised at Sebi meet

Securities and Exchange Board of India (Sebi) chairman UK Sinha on Tuesday met market participants to take stock of wide-ranging issues impacting the market.

Also read: Sebi gets more powers; can seek old-case details from peers The meeting, which saw particpation of nearly 30 represenatives apprised Sebi of various issues and changes impacting the markets, reports CNBC-TV18’s Sajeet Manghat. Sebi chairman UK Sinha has made a norm of meeting market participants to gauge market issues. He held a meeting on Tuesday in Mumbai where he met 25-30 market participants not only from custodians but also from brokerages and financial institutions to understand the kind of issues which are coming in. Though Sebi did not come out with any clarifications to the queries, it did note all the issues which were raised. Many of the queries were related to interconnectivity of KRA or KYC registration authorities. Some of the participants wanted some operational relaxation in the securities lending and borrowing mechanism (SLB) so that it can take off in a much better way. These were some of the core issues which were under consideration. Sebi will come out with relaxations and some guidelines so that market is smoothened in terms of any irregularities which are there in the current regime.