Doing whatever is necessary to safeguard investor interests: Ajay Tyagi

Soon, we will be releasing a consultation paper on fiduciaries, which includes auditors,says Sebi chairman

Ajay Tyagi, Chairman Sebi — Ajay Tyagi, Chairman, SEBI at the Press Conference in Mumbai on Wednesday - (Photo: Kamlesh Pednekar)

2 min read Last Updated : Aug 05 2019 | 5:44 PM IST

AJAY TYAGI, chairman of the Securities and Exchange Board of India (Sebi), spoke on various issues while addressing the media following the board meeting.

Edited excerpts:

Additional surveillance measures (ASMs)

The ASMs are for protection of investors. Some of them have to come suddenly to contain volatility in the stock

Alleged leak of stocks in the ASM list

We are conducting our own enquiry and stock exchanges are conducting a probe on their end. We have taken some decision on the collective action. If anyone is found guilty, we will take stern action.

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Disclosure changes to auditors

The new disclosure standards are in line with the Uday Kotak committee's recommendations. It will be mandatory for the companies to report any change in auditors from April 1.

ALSO READ: Sebi partially accepts Kotak panel recommendations on corp governance

Accountability of auditors

We are cognizant of issues and doing whatever is required to be done to safeguard the interest of investors. Soon, we will be releasing a consultation paper on fiduciaries, which includes auditors. We have been taking action in cases that fall under our jurisdiction.

ICICI Bank probe

We have sent a show cause notice to ICICI Bank. We are yet to receive a reply.

ICICI Pru's huge participation in ICICI Securities IPO

We are examining the case and have sought information from all parties. We are yet to receive replies.

NSE-MCX merger

We have not received any proposal.

ALSO READ: MCX shares continue to surge, up over 4% amid merger talks with NSE

FPI circular imposing curbs on NRI-managed funds

The circular does not state anything new. It reiterates what are the requirements under the Prevention of Money Laundering Act. The anti-money laundering law prescribes what beneficial ownership is and this circular only restates those rules.

(Compiled by Pavan Burugula & Jash Kriplani)