Sebi panel suggests tweaks to enhance regulator's enforcement function

Dave panel identifies four broad areas the need to be revamped, seeks to quicken process leading to issuance of final order against an intermediary

The enforcement function of the Securities and Exchange Board of India (Sebi), which is one its most critical, is set for an overhaul. A high-level committee led by A R Dave, a retired Supreme Court judge, submitted a 424-page report aimed at the enforcement mechanism, on Tuesday.

“The committee has considered various issues pertaining to the enforcement mechanism of the board (Sebi) and made recommendations thereon to make it more robust and efficient. The recommendations seek to introduce tactical, strategic, and systemic changes to the enforcement process to improve capabilities of Sebi in protecting investors and indicting defaulters,” the report