Tuesday, June 09, 2009
SEBI told to be pro-active in helping investors
The Central Information Commission (CIC) has asked capital market regulator Securities and Exchange Board of India (Sebi) to use its power pro-actively to seek information from market intermediaries to address investor grievances. In a recent order, CIC has directed the regulator to ensure that stock exchanges function in a transparent manner, especially in respect of investor protection.
The order in favour of Bhoj Raj Sahu, who had sought information from the Bombay Stock Exchange (BSE) through Sebi under the Right To Information (RTI) Act, has also instructed Sebi to put in place a grievance settlement mechanism. "It has been the experience of the Commission in the past that investors and other persons dealing with stock exchanges approached the Commission, invoking the provisions of the RTI Act because somehow it is their feeling that Sebi as market regulator was not providing them the type of support and relief they were looking for," the order by Information Commissioner AN Tiwari, said.
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The order in favour of Bhoj Raj Sahu, who had sought information from the Bombay Stock Exchange (BSE) through Sebi under the Right To Information (RTI) Act, has also instructed Sebi to put in place a grievance settlement mechanism. "It has been the experience of the Commission in the past that investors and other persons dealing with stock exchanges approached the Commission, invoking the provisions of the RTI Act because somehow it is their feeling that Sebi as market regulator was not providing them the type of support and relief they were looking for," the order by Information Commissioner AN Tiwari, said.
Complete Article
# posted by Vishal : 8:19 PM
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