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Mar 09, 2013
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SEBI assures swift action on share price manipulation
The market regulator, the Securities and Exchange Board of India has assured swift action in case of market manipulation. At the same time, the regulator has indicated introduction of simplified Know Your Client (KYC) norms for the foreign investors.
After post-Budget meeting between the Finance Minister P. Chidambaram and regulator’s board members, the SEBI Chairman U.K. Sinha said, “We have got some data during investigations on crashes in some mid-cap stocks recently (February 25). However, we have not reached a conclusion. But we want to assure everyone that we are acting very fast whenever there are attempts for market manipulations.”
Source -
http://www.thehindubusinessline.com
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