He added that the regulator aims to expand India’s 130 million unique mutual fund investors, possibly doubling that base over the next five years, and that any policy decisions must account for both sides.
Sebi is of the view that enhanced institutional participation can bring in liquidity and make it more attractive as a tool for hedging, and regulations will developed to ensure 'prudent institutional access', said the chairman.
To drive inclusivity, Sebi is working on incentives for distributors to bring first-time investors from B30 cities and additional incentives to encourage women investors. “Financial inclusion will remain incomplete unless women are equally represented,” Tuhin Kanta said.
Sebi chairman Tuhin Kanta Pandey said that the regulator and the exchanges are looking at this matter involving Jane Street as a surveillance issue.
"...whatever Sebi’s remit is, Sebi is doing. It is RBI’s remit but if there are any egregious violations by anyone in its capacity Sebi is looking into it," said Sebi's Tuhin Kanta Pandey.
The capital market regulator added that reforms are a way to enhance efficiency and robustness in the equity market, and Sebi will be using technology to facilitate changes.
The merger could take up to 18 months to be completed, and according to analysts, it will be equally beneficial for both customers and the bank.
Madhabi Puri Buch, a former SEBI Whole Time Member, was previously nominated to lead a new technology committee set up by the market regulator.
The SEBI chief, while speaking at the inaugural session of the 12th edition of Financial Markets Summit, said the IPO market price discovery was not as transparent and efficient as secondary market price discovery.
"The capital markets, globally, have been quite volatile during the current year and are likely to remain so in coming times on account of various factors such as US Fed rate hikes, volatile oil prices, intensifying trade conflicts and sanctions.
A week after announcing the appointment of Ajay Tyagi as the next SEBI chief, the government on Friday cut down tenure of the SEBI Chairman-designate from 5 years to 3 years.
The Supreme Court today listed for final hearing on March 7 a PIL seeking a CBI probe into the Panama papers leaks relating to over 500 accounts in offshore banks.
Sinha will be remembered as the chief under whom SEBI strengthened financial markets regulations, putting in place stronger rules to curb insider trading. Under the Sinha regime, hallmark changes in the rules for listing and delisting companies were made, besides bids to spruce up corporate governance at listed companies.
Senior IAS officer Ajay Tyagi will take over as the chairman of Securities and Exchange Board of India when outgoing SEBI chief UK Sinha‘s tenure ends on March 1, 2017.
Sinha noted that the number of IPO issuances in the last three years and the amount raised is going up in a healthy manner, helped by stringent disclosure norms issued by the Sebi.
At the inaugural session, insurance regulator IRDAI's Chairman T S Vijayan and Hero MotoCorp Chairman Pawan Munjal would be the keynote speakers, according to a release.
Sinha said that the Securities and Exchange Board of India (Sebi) has extended the deadline till November 30 for public comments on the proposed norms to regulate investment advsiors on request from various asset management companies.
"The US investors are very enthusiastic about India and policy changes and the regulator development that has taken place in India," Sinha, who was recently on a visit to the US, told reporters here.
Extraterritoriality refers to certain exemptions granted to foreign entities from the jurisdiction of local law, and post the 2008 global financial meltdown came to involve the derivatives trade, especially in the US and EU.
The comments by chief of the capital markets regulator were made during a speech at the launch of journalist Tamal Bandyopadhyay's book 'Bandhan: The Making of a Bank' here, in presence of Reserve Bank Deputy Governor S S Mundra.
The discussions are based on suggestions by the Supreme Court appointed Special Investigation Team (SIT) on black money.
The term of the current Sebi chairman U K Sinha ends next week on February 17 and a search process was initiated to find his successor in August last year.
The new norms provide significant relaxations in the disclosure requirements, while Sebi has also relaxed its delisting, takeover and Alternative Investment Fund regulations for such new-age entities engaged in IT, data analytics, intellectual property, bio-technology or nano-technology like activities.
This comes at a time when Sebi has already acted against over 950 domestic entities for suspected tax evasion through stock exchange platform, while at least 25 offshore entities are under its scanner for providing investment services to corporates and High Networth Individuals (HNIs) here in a clandestine manner.
At the same time, it is always "generous" and open to reasonable suggestions from the corporates, Sebi chief UK Sinha said, but regretted the fact that companies often come out with such "suggestions" after new regulations have already been framed.