Markets regulator Securities and Exchange Board of India (Sebi) has directed foreign institutional investors (FIIs) to disclose more information about their investment structure in
“It is not about FIIs investment, it is about what structures FIIs have for their investments in
Sebi had earlier asked FIIs, which are registered on or before 7 April to declare whether they are a multi-class share vehicle (MCV), or structured as protected cell companies (PCCs) or segregated portfolio companies (SPCs).
“We are currently looking at an expansionary phase of the markets. However, it is for us to be facilitators in this process and in our hands to ensure that such growth is in an orderly and efficient manner,” Bhave said.
The country needs to cut several transaction costs to grow its capital markets, he said, adding that while volumes are large, the ticket-size of transactions remains small, which puts increased pressure on costs.
Bhave pointed out that the market regulator is also evaluating ways to cut brokerage costs related to the transaction of securities in the markets.
“There are three types of transaction costs - brokerage, taxes and impact costs. While we are most efficient in terms of impact costs, there is still a lot more that needs to be done in terms of brokerage costs,” Bhave said.
Commenting on the challenges ahead, Bhave said that Indian companies need to start reporting as per uniform accounting standards soon. The language of accounting needs to be the same across the world if investors are to make comparisons between companies across the world, he said.
“One of the most difficult challenges that corporates are expected to face is the transfer to International Financial Reporting Standards (IFRS) beginning April 1, 2011,” Bhave said.
The market watchdog plans to introduce more currency derivatives products, beginning with options, to give a wider choice to investors.
“There is a lot of scope for expansion through diversification of products, but at the same time, the sensibilities of the consumer/investor must be kept in mind. We can not simply exist in a world of caveat emptor or buyer beware; there is a need for increased responsibility,” Bhave said.
He refused to comment on the ongoing tussle between Sebi and Irda on the Ulips issue.
Wednesday, April 21, 2010
Sebi seeks more info on FIIs investment structure
Industry Research Reports
LIC Term Insurance or Pvt Life Insurance Term Plan ? Which is the best term insurance in India ? Which Insurance company has the best cla...
આજકાલ કોઈપણ સમસ્યા હોય લોકો એન્ટિબાયોટિક્સ અંગ્રેજી દવાઓ લેવાનું વધુ પસંદ કરતાં હોય છે કારણ કે આજની પેઢીને આપણા જુનવાણી નુસખા વિશે જાણ હોત...
Introduction The Japanese began using candlestick patterns for over 100 years before the West developed the bar and point and figure syst...
While investing in Mutual Funds, you go through fund reviews, watch funds performance, track historical performance, find out what ex...
મ્યુચ્યુઅલ ફંડ્સના સોદામાં ઉચ્ચ સ્તરની પારદર્શકતા આવે તે હેતુથી શેરબજાર નિયમનકારી સંસ્થા સેબીએ એજન્ટ્સને ચૂકવેલું પુરેપુરું કમિશન જાહેર કરવ...
સેબીએ કોમોડિટી ડેરિવેટિવ્ઝ માર્કેટના નિયમનને કડક બનાવ્યાના એક વર્ષ પછી કોમોડિટી એક્સ્ચેન્જિસની વૃદ્ધિના પગલાની શરૂઆત કરી છે. MCX અને NCDEX ...
સીબીઆઈ કોર્ટે બુધવારે એફટીઆઈએલ જૂથના સ્થાપક જિજ્ઞેશ શાહને 26 સપ્ટેમ્બર સુધી પોલિસ કસ્ટડીમાં રાખવા આદેશ આપ્યો હતો. સીબીઆઈએ 30 સપ્ટેમ્બર સુ...
Equity Linked Savings Scheme (ELSS) is the best tax saving (Section 80C) investment option for investors looking to create long term w...
મેનેજમેન્ટ સ્નાતકો માટે ઇન્વેસ્ટમેન્ટ બેન્કિંગમાં કારકિર્દી હંમેશા આકર્ષક રહી છે. જોકે, હવે આ સેક્ટરના પડકારોને લીધે ઘણા મેનેજમેન્ટ સ્નાત...
The Federal Open Market Committee (FOMC), a branch of the US Federal Reserve Board that decides US monetary policy, meets eight times ever...