SEBI TO TAKE COMPLIANCE OFFICERS TO TASK IF STAFF ERR

The Securities and Exchange Board of India (SEBI) sought to give more teeth to its new guidelines on dissemination of news by market intermediaries, by holding compliance officers of such firms liable for breach of duty in case of a failure to check contents forwarded by employees. Failure by any employee to seek approval from the compliance officers before forwarding market-related news had already been made liable for action.