
4th December 2006, 04:57 PM
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Sachin Asher
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Join Date: Sep 2006
Location: Vadodara
Posts: 8,632
Rep Power: 383
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SEBI's New Initiatives
Investor Protection Fund - SEBI is raising resources to set up an investor protection fund. It will be funded by the fines and penalties levied on the listed companies. According to the SEBI chairman M Damodaran, the SEBI act of 1992 needs to be amended for setting up the fund.
SEBI is also planning to launch an integrated online system for market surveillance which would obtain data from various sources on real-time basis to track any irregularities. It will be known as Integrated Market Surveillance System (IMSS) and will be capable of tracking market transaction data from various sources such as stock exchanges, clearing bodies, depositories, and newswires. The system will be capable of generating alerts if there will be any creation of artificial market in a stock, insider trading, synchronized trading, front running or a high concentration of shares with any market participant.
SEBI is also planning to levy a fee on stock exchanges. This will be based on the turnover of respective exchanges. Till now only the government was levying charges on stock exchanges in form of securities transaction tax (STT) and other fees.
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