SEBI plans to compress all circulars into Master Circulars

Mumbai, Mar 28 (UNI) The Securities and Exchange Board of India (SEBI) has planned to compress all the circulars, issued by it to various participants, into Master Circulars.

The proposed act would enable the stock market's entire policy structure, read with its rules and regulations, to be found in one place. The move would further help in minimising unintended technical violation of circulars, a SEBI release said here today.

Also, it SEBI is trying to review all its regulations so that they are alive to the current market structure and address regulatory concerns adequately.

This process of checking for relevance and updation in the substantive regulation would run parallel to the creation of Master Circulars in the same area so that the two efforts can be coordinated.

National Law school of India University, Bangalore has agreed to be a partner school in the project.

Besides, National University of Juridicial Sciences, Kolkata will also particiapte in the project.

Moreover, SEBI has decided to introduce consent orders for all maters, which are pending regulatory action or pending before securities appellate tribunal/courts. The 'frequently asked questions' on the subject will be put on the SEBI website today.

UNI