SEBI: Reluctant Market Regulator Needs To Press the Reset Button
Things couldn’t get any worse for the market regulator. Although much of the embarrassment it has faced in recent times is due to legacy issues, it may be time for a serious overhaul of how the Securities and Exchange Board of India (SEBI) is handling its functions of investigation and enforcement. A series of changes, culminating in the 2013 ordinance, made SEBI one of the most powerful market regulators in the world. Although its powers were slightly diluted in 2015, SEBI continues to have enormous powers of market regulation and supervision, probably more than any regulator in the wor...