Simplifying norms better than looking for new options: Tyagi

Many a time simplifying the regulations is better than actually looking for new options, according to Sebi Chairman Ajay Tyagi.
The regulator is working on ways to deepen the securities market by way of attracting more investors and channelising more household investments.
"What is required is procedural simplification that is an ongoing process and many a time, nuts and bolts and procedural simplifications are important than the policy issues. They are being done in Sebi too," Tyagi said at a CII event here today.
Earlier this week, the Sebi board cleared a slew of reforms, including allowing investments in mutual funds through e-wallets.

"Many a time simplification (of regulations) is better than actually looking for new options," the Sebi chief said, adding that procedures with respect to various other regulations would be simplified in a time-bound manner after consultations with stakeholders.
About surveillance and enforcement actions, Tyagi said efforts are being made to make improvements.
"We are trying to improve and have deterrent enforcement rather than starting new cases... And deal with in a timely manner," he noted.