Securities Laws (amendment) bill passed, SEBI gets more Powers

The Parliament has approved the Securities Laws (Amendment) Bill to empower the market regulator to crack down on Ponzi schemes. The new law would empower SEBI investigators to conduct searches and seek information from suspected entities, both within and outside the country. However, as a safeguard, any search operation can be conducted only after approval of a designated court in Mumbai.

Key Provisions

• Any pooling of funds of over Rs 100 cr will be considered collective investment scheme
• Set up special courts for fast trail of offences under SEBI act.