SUBSTANTIAL MEASURES WILL BE TAKEN
TO CURB INSIDER TRADING : FM
PARLIAMENTARY
CONSULTATIVE COMMITTEE OF MINISTRY OF FINANCE MEETS TO DISCUSS
CAPITAL MARKETS
Addressing the Parliamentary
Consultative Committee which met here today, the Union Finance
Minister, Shri Jaswant Singh assured that all necessary steps
would be taken to curb insider trading. The Finance minister was
responding to the suggestions made by some of the members of the
Parliamentary Consultative Committee which met to discuss Capital
Markets. The Finance Minister expressed the hope that inspite
of the limited resources available to the regulator, human resources
and technological powers of SEBI would be augmented to keep pace
with the expansion of its regulatory powers.
On the issue of
Corporate governance, Shri Jaswant Singh said that this issue
was not limited only to regulation but to a larger effort to put
in place ethical practices. Responding to the suggestions of some
members that the market must develop larger number of IPOs, the
Finance Minister agreed that there was need to add substantial
volume to the market which he described as " thin".
On the issue of quarterly disclosures, the Finance Minister said
that this was a global practice which is in the interest of investors
and the Finance Ministry has also commenced the practice of bringing
out a quarterly review of the economy.
Members congratulated
SEBI on 100 per cent dematerialised and online trading platform.
Members also expressed satisfaction over providing an effective
regulatory framework at par with the best in the world and suggested
that efforts should continue in this direction.
Members who attended
the meeting included Dr. Manmohan Singh, Shri Nawal Kishore Rai,
Shri Parmeshwar Kumar Agarwalla, Shri Abani Roy, Shri Ashwani
Kumar and Shri Santosh Bagrodia.
