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.
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