‘Not shy about being ‘harsh’ on violators’
|Source: The Hitavada Date: 28 Feb 2017 10:42:35|
SEBI has been justly “harsh” with those threatening the integrity of capital markets and is not “shy” about it, the outgoing chief U K Sinha said on Tuesday as he favoured uniform treatment while acting against lapses irrespective of the corporate being “big or small”.
As the regulator makes efforts to protect the interest of investors and safeguard the markets from manipulations, Sinha said, a new set of norms were being worked out to curb misuse of social media as also looking at slapping higher penalty for misuse of high-speed algo trades.
Sinha, who would be demitting office on March 1 after being at the helm of the Securities and Exchange Board of India (Sebi) for six years, sent out a stern warning that action would be taken against violators.
In his last press conference as Sebi chief, Sinha said that Sebi had worked hard on “cleansing of markets” and all potential instruments of manipulation, including defunct regional stock exchanges, had been closed down.