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The new SEBI Chairman, Tuhin Kanta Pandey said that the regulator will review outdated and redundant regulations to facilitate ease of doing business for capital market intermediaries which include mutual funds, PMS/AIF and RIAs.
Pandey said, “If some statutes are redundant and outdated over the years and not serving any purse, we are happy to review the same. We are open to ideas on this.”
He was speaking at a recent Moneycontrol-CNBC Global Wealth Summit.
Pandey said, “Ease of Doing Business in capital market is applicable to all the three touch points – point of entering, point of transaction and point of exiting. Capital market is a dynamic space so change is imminent but we will certainly not be looking for maximum regulation but for optimum regulation.”
The new Chairman also said that laws and regulations are better enforced through voluntary compliance. “I am looking forward to engage with all stakeholders to discuss what more measures need to be taken to encourage voluntary compliance.”
On investor awareness, Pandey said that the regulator will focus on creating informed investors by not only creating awareness among prospective investors but also among existing investors.
