Steps taken on P-notes adequate: ex-Sebi chief U K Sinha
NEW DELHI: The Securities & Exchange Board of India (Sebi) said on Saturday that the norms governing stock exchanges and other market infrastructure institutions would be reviewed and amended after a public consultation process.
Sebi said steps taken by it on participatory notes (P-Notes) are “sufficient enough” to address the concerns of the special investigation team (SIT) on black money.
“Our feeling is that the measures taken by Sebi with regard to offshore derivative instruments (ODIs) are sufficient enough to satisfy the SIT.
But, if they come out with something new, then Sebi will have to take that (into consideration),” said outgoing Sebi Chairman UK Sinha.
“The consistent tightening of ODI norms by Sebi has not only been through increased compliances but also improved transparency,” the regulator said.
Sebi said steps taken by it on participatory notes (P-Notes) are “sufficient enough” to address the concerns of the special investigation team (SIT) on black money.
“Our feeling is that the measures taken by Sebi with regard to offshore derivative instruments (ODIs) are sufficient enough to satisfy the SIT.
But, if they come out with something new, then Sebi will have to take that (into consideration),” said outgoing Sebi Chairman UK Sinha.
“The consistent tightening of ODI norms by Sebi has not only been through increased compliances but also improved transparency,” the regulator said.
