Designed To Fail?
Why is the regulator avoiding a 'statutory' corporate filing system.
In early November, the central information commissioner ordered the Securities and Exchange Board of India (SEBI) to reveal the names of 12 entities that had short-sold Reliance Petroleum shares in the derivatives market, just before Reliance Industries sold shares in the cash market. This has led to speculation that the Right to Information (RTI) Act will force SEBI to be more transparent. At Moneylife, we think otherwise. Not long ago, SEBI mindlessly refused to provide information on the performance of portfolio management schemes (PMS) citing fiduciary reasons. It did ...
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