Regulators

The regulatory state's fault lines: India must restore separation of powers

Regulators operate as mini-states within their domains, simultaneously exercising quasi-legislative, executive, and quasi-judicial powers

Low VC funding, regulatory hurdles challenges to biotech growth: BIRAC MD

India targets a $300 billion bioeconomy by 2030, up from $165 billion in 2024.

Cybersecurity audits mandatory for crypto exchanges amid rising thefts

Crypto platforms will need to hire a security auditor registered with the Indian Computer Emergency Response Team (Cert-In), a nodal agency that deals with cybersecurity incidents

The limits of disclosure regime: Penalising industry, confusing investors

Like any other organisation facing public outcry, perception management becomes the regulator's foremost priority

Regulating the regulators: Less diversity may weaken reform principle

Note that the erosion of these principles followed in the early years of reforms did not happen suddenly or only now. This occurred gradually over the last many years

BS BFSI Summit: 'Regulatory compliance key to consumer protection'

While compliance may incur costs, it strengthens consumer trust and safeguards data security in an era when customers increasingly demand faster service, said panellists at the BS BFSI Summit

Group representing business correspondents seeks regulatory status

Self-regulatory organisation status for business correspondents will improve governance, bring in investments

India becomes affiliate member of global medical device regulator IMDRF

India has become an affiliate member of the International Medical Device Regulators Forum, which will open doors to invaluable opportunities for reliance and collaboration with regulatory authorities worldwide, the Union health ministry said on Thursday. The IMDRF, which was established in 2011, is a group of global medical device regulators whose aim is to speed up the adoption of international medical device regulatory harmonisation and convergence. Its members include national regulatory authorities of the US, Australia, Canada, the European Union, Japan, the UK, Brazil, Russia, China, South Korea, Singapore and the World Health Organisation (WHO). "To achieve global alignment in its medical device regulatory system, enhance the competitiveness of the domestic industry and boost transnational prominence, the Central Drugs Standard Control Organisation (CDSCO), under the Ministry of Health and Family Welfare, applied for Affiliate Membership in the International Medical Device ...

Sebi, RBI and Irdai: How financial regulators are appointed, removed

Tenures across organisations often range from three to five years with the possibility of reappointment

Amid growing concerns of risks, Sebi amends rules to regulate finfluencers

Markets watchdog Sebi has amended norms in a bid to regulate unregistered financial influencers or finfluencers amid growing concerns about potential risk associated with such unregistered persons. In three separate notifications, the regulator has restricted associations between its regulated entities and unregistered individuals. This came after the board of Sebi approved a proposal in this regard last month. As per the notifications, the persons regulated by Sebi and the agents of such persons will not have any association like any transaction involving money, referral of a client, interaction of information technology systems with any other person who, directly or indirectly, provides advice, recommendation or makes explicit claim of return. "No person regulated by the Board (Sebi) or the agent of such a person shall have any direct or indirect association, with another person who provides advice or any recommendation, directly or indirectly, in respect of or related to a ...

Latest global audit norm adoption on regulators' table to upgrade standards

The move to adopt ISA 600 is intended to tighten oversight on auditors who are often found shielding behind audit reports approved by subsidiary companies

Ex-RBI DG asks regulators to 'introspect' after recent instances of unease

Citing recent instances of their proposals creating unease in the industry and decisions getting overruled or withdrawn, Former Reserve Bank of India (RBI) Deputy Governor S S Mundra on Friday called for an "introspection" among financial regulators. The career central banker, who served as the Deputy Governor of the RBI for three years ending 2017, cited recent instances involving both the RBI and Sebi. "There is a little bit which is there, for which regulators also need to introspect," Mundra said, while speaking at an event organised by industry lobby grouping Assocham here. He mentioned that the Reserve Bank has had to roll back the regulations on alternative investment fund investments for banks after an uproar in the industry and it is also grappling with concerns raised by the industry over its proposals on higher provisioning for project finance. Without mentioning the exact instances, Mundra also said the apex court of the land has had to intervene by asking regulators to

Agenda for regulatory reform

Improving the governance of omnipotent regulators who currently dominate the economy and the lives of Indian citizens should be at the top of the new government's priorities

Sebi invites application to hire executive director on 3-year contract

Capital markets watchdog Sebi has started the process to recruit an executive director and invited applications to fill the vacancy. The Securities and Exchange Board of India (Sebi) has invited applications for the post until July 18. The appointment of executive director will be on a deputation or contractual basis, for a period of three years, the regulator said in a public notice issued last week. The candidate applying for the position is required to have at least 20 years of experience in dealing with problems related to the securities market or special knowledge or experience of law, investigation, finance, economics and accountancy, among others. At present, Sebi has 10 executive directors -- S V Muralidhar Rao, G.P. Garg, Pramod Rao, Biranchi Narayan Sahoo, B Rajendran, Ruchi Chojer, Manoj Kumar, Govindayapalli Ram Mohan Rao, G Babita Rayudu and V S Sundaresan. Earlier this month, Sebi initiated the process to hire 49 officers in different departments this year, a move

Policy loan now mandatory in all life insurance savings products: Irdai

Regulator Irdai on Wednesday said the facility of policy loan is now mandatory in all life insurance savings products, enabling policyholders to meet liquidity requirements. Issuing a master circular which consolidates all regulations with regards to life insurance policies, the Insurance Regulatory and Development Authority of India (Irdai) also said the free look period, which provides time to review the policy terms and conditions, is 30 days as against 15 days earlier. The latest master circular follows a similar exercise by the regulator for general insurance policies. "This is an important step in the series of reforms taken up by the insurance regulator with interests of the policyholders at the core. A conducive environment is now facilitated to spur innovation, enhance customer experience and satisfaction," Irdai said. According to the master circular, the facility of partial withdrawal under pension products is allowed enabling the policyholders to meet their specific ...

Following HC order, Sebi to auction 22 properties of 7 companies on July 10

Markets regulator Sebi on Monday said it has lined up 22 properties of seven companies -- including Pailan Group, Vibgyor Group and GBC Industrial Corp group -- for auction on July 10 to recover money illegally collected from investors. Other firms, whose properties will also be auctioned, are Tower Infotech Group, Waris Group, Teachers' Welfare Credit and Holding Group, and Annex Infrastructure India Ltd. The regulator has initiated the process for the sale of assets of the companies as per orders by the Calcutta High Court. Justice Sailendra Prasad Talukdar has been appointed as the one-man committee for liquidating the assets of the firms and repaying the investors. The move is part of Sebi's effort to recover investors' money. The properties include plots and a flat in West Bengal and they will be auctioned at a reserve price of Rs 45.47 crore, according to a notice issued by the Securities and Exchange Board of India (Sebi). Adroit Technical Services Ltd has been engaged by t

Sebi bags 'Best Conduct of Business Regulator' award by The Asian Banker

Sebi has been given 'Best Conduct of Business Regulator' award in Asia Pacific by The Asian Banker for its role in enhancing the regulatory framework for securities markets in India. The award was received by Sebi's Whole Time Member Kamlesh Chandra Varshney in a ceremony held in Hong Kong. "This authority (Sebi) has been actively working towards instantaneous settlement. In 2021, T+1 settlement was introduced in a phased manner, which was fully implemented from January 2023. This move has provided investors with faster access to their funds following trade execution and settlement, enhancing market efficiency and liquidity," The Asian Banker said in a statement. Through rigorous enforcement and innovative regulatory practices, Sebi has significantly improved the conduct of business in the country's financial markets, ensuring fair treatment of consumers and robust market integrity, it added. The Asian Banker creates platforms to build a greater sense of community amongst players i

Sebi forms panel to review ownership, economic structure of clearing corps

Capital markets regulator Sebi on Tuesday said it has set up a committee to review the ownership and economic structure of clearing corporations and suggest measures to ensure that clearing corporations function as resilient, independent, and neutral risk managers. The ad-hoc committee would be chaired by Usha Thorat, former Deputy Governor of the Reserve Bank of India (RBI). The decision has been taken in the wake of the substantial growth of Indian securities markets in recent years and the importance of clearing corporations as central risk management institutions. In a statement, Sebi said that the committee has been entrusted with the task of reviewing ownership structure as well as finances of clearing corporations. With regards to ownership structure, the committee will examine the feasibility, and broadening the list of eligible investors, who are allowed to take shareholding in a clearing corporation and suggest categories of investors who can acquire stakes in such ...

Regulating the regulators

Govt must strengthen accountability

Global regulators want to better prepare funds, investors for margin calls

Regulators spent more than a decade after the 2008 credit crunch shoring up lenders' financial strength, yet a series of shocks outside the banking sector have since put a spotlight on other risks