SEBI TO REWRITE ITS RULEBO

The Securities and Exchange Board of India (SEBI) has decided to rewrite its rule book to help radically change the way capital markets are regulated. Launching a massive project for this, Sebi has roped in the two National Law Schools at Bangalore and Kolkata, a leading law firm, a senior jurist and a former judge of the Supreme Court. The market regulator has decided to convert all existing circulars – including guidelines issued by it – into regulations. All existing circulars for different market intermediaries, too, will be converted into master circulars and then into regulations.