Sinha advises light touch regulation of AIFs as SEBI's next task
"Such efforts are not conducive in creating a strong and independent regulatory environment," he added.
"The appointment of U K Sinha as an additional non-executive independent director on the Board for a fixed term from March 13, 2018 till August 10, 2021 (on recommendation of nomination and renumeration committee) to hold office till the ensuing AGM of the company," Vedanta said in a filing to BSE.
"We have also taken a number of measures to ensure for example the type of incidence that have happened outside India and once or twice in India as well, they are not repeated by putting checks on the size of the order you can put and in what manner you can put," outgoing SEBI chief UK Sinha said.
In his last press briefing before handing over the SEBI reins to Ajay Tyagi on March 1, Sinha said his team had ensured swift action on violations and said he was demitting office with the capital markets in order.
Prime Minister Narendra Modi had earlier urged state governments to explore the option of raising funds through municipal bonds.
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.
This is was UK Sinha‘s last meeting as SEBI Chairman, before Ajay Tyagi, who was appointed on Friday evening, takes over from March 1
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.
Sources have told CNBC-TV18 that Ajay Tyagi, Additional Secretary for Economic Affairs in the Finance Ministry, and PK Pujari, the Power Secretary, are in the running to head the country's market regulator.
The Sebi-run National Institute of Securities Markets (NISM) and Moody's Analytics today launched an advanced certification course in derivatives market strategies (CDMS), and expect to train 2,000 professionals in this sector by the end of the calendar year.
The outflow of USD 11 billion of foreign portfolio investment in the October-December quarter is being analysed to assess the extent of impact of demonetisation on the outflows.
The Securities and Exchange Board of India (SEBI) has postponed its interview date for candidates applying for the executive director's post.
As per the listing agreement norms, a listed company needs to file any scheme of arrangement with the stock exchanges for observations at least one month before filing it with any court or tribunal for approval.
Three senior bureaucrats, including Economic Affairs Secretary Shaktikanta Das, are believed to be in contention for the post of capital market regulator Sebi Chairman after the extended tenure of incumbent UK Sinha ends early next year.
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.
An improving economy and the market regulator‘s focus on raising disclosure norms have benefited the IPO market, says SEBI Chairman UK Sinha.
It's been over two years since Securities Exchange Board of India (SEBI) paved the way for Real Estate Investment Trust (REIT) and Infrastructure Investment Trust (INVIT) to be introduced in the Indian market and since then, both the regulator and government have tried to sweeten the deal for developers and infra players to take the plunge.
The views come in the wake of independent directors of Tata group's hospitality arm Indian Hotels endorsing the leadership of Cyrus Mistry while expressing their 'unanimous' full confidence in him.
On October 3, the apex court was told by the Department of Economic Affairs that an undisclosed income of about Rs 8,186 crore has been brought under the tax ambit despite non-sharing of any information by the Swiss authorities.
Noting that it was important to attract foreign fund flows into the BRICS nations, Sinha said the Securities Exchange Board of India (Sebi) would be happy to share its experience with respect to the latest guidelines for foreign portfolio investors (FPIs).
In a move to popularise mutual funds, the capital market regulator Securities and Exchange Board of India has been pushing hard for reforms.
Emphasising the need for better coordination among financial regulators globally, Sebi Chairman UK Sinha today said markets have gone beyond the control of policymakers post 2008 credit crisis.
Sebi chief U K Sinha today said the capital markets regulator will consult the government, the RBI and high frequency trading (HFT) technology providers before taking a final call on tweaking norms related to super-fast algo trades.
In its efforts to increase the liquidity in the corporate bond market, Sebi had, in July, put in place an information repository on the secondary bond market. This would help investors to take more informed decisions.