Stock broker norms to be rewritten by December, fresh 'pump & dump' detection tools on cards

SEBI Chairman Tuhin Kanta Pandey on Saturday reiterated that ensuring the highest degree of investor protection remains the capital market regulator's top priorities. The SEBI chief was speaking at stock exchange BSE's brokers' forum.

Investor protection of utmost importance: SEBI Chairman

Stating that investor protection continues to be of the utmost importance, the SEBI chief expresses confidence that the country's cash market is det to deepen going forward.

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"We will be thoughtful in derivatives market," he said.

SEBI to roll out more awareness and education programmes

Pandey said that the regulator will release additional programmes aimed at promoting financial literacy and awareness.

The SEBI chief also said that strengthening the country's commodity market, both agricultural and non-agricultural segments, is also high on its agenda.

SEBI is working on a fast-track plan to simplify the KYC or 'know your customer' process for non-resident Indians (NRIs). The chairman said that the regulator’s primary objective is to make the process fully digital through video KYC, doing away with the need for NRIs to travel physically for verification.

Stressing on the regulator’s focus on transparency and governance, Pandey said no company director will be allowed to hold a permanent seat on the board. Every listed entity must also have at least one independent director to ensure accountability and protect investor interests, he said. On the commodity market front, Pandey acknowledged that several tax and GST-related challenges persist at the state level. However, he said, the regulator has formed dedicated working groups to resolve these issues and further strengthen the country’s commodity trading ecosystem.

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