MC EXCLUSIVE Improving tools for better alerts, not just seeking more powers, says Sebi Chairman Tuhin Kanta Pandey

The capital market regulator is improving its existing tools to catch manipulators and sharpen its investigation process, with the focus on using them optimally, Sebi chairman Tuhin Kanta Pandey told Moneycontrol on April 30, when asked if it needs more powers like phone tapping to ringfence offenders.

“I am not the one who is saying that we will just keep on looking for more powers. We can get the authority and do it. The question is, you know, we need not have all the authority or all the things. It is for, of course, the Parliament to decide, the government to decide. But whatever powers we have, that can be effectively used. I mean, that should be our first priority,” said Tuhin Kanta Pandey.

Sebi chairman further elaborated that for better alerts, it is important to constantly improve the tools available with the regulator. If the tools are improved, then it will give better alerts, Tuhin Kanta added, and with better alerts, things can be processed faster and better. “…if you really (see), quality of our orders, you may have noticed that they are able to do a far better analysis of, you know, movements, maybe, you know, how the funds have moved, how the people have defrauded,” Tuhin Kanta added.

The improvement of tools will continue for better alerts and results, said the Sebi chairman. “I think there is still scope for further development of those tools, which we will constantly do. Of course, you get more powers, that makes it easier. That is another way of doing it. Whatever powers we have, we can always make use of them better in terms of adding resources and better tooling,” said Tuhin Kanta Pandey.