SEBI’s Open Door: Pandey Invites Industry to Rewrite Market Rulebook

SEBI Chairman Tuhin Kanta Pandey has called on industry leaders to share concrete suggestions for easing regulatory norms and making it simpler to do business in India’s capital markets. At a recent FICCI roundtable, Pandey engaged with over 50 CEOs and managing directors from sectors like FMCG, mutual funds, and capital markets, emphasizing SEBI’s openness to review and potentially relax rules that may be hindering business efficiency or growth.

Industry players were invited to submit cogent reasons and anticipated advantages for all proposed alterations, particularly with respect to significant regulations like Listing Obligations and Disclosure Requirements (LODR), fundraising policies, and takeover norms. Though SEBI is open to curbing the regulatory burden, Pandey asserted categorically that not all rules are available for amendment-just those that really hinder business growth without compromising market integrity.

This engagement is a part of Pandey's larger vision to upgrade SEBI, rationalise regulations, and create a collaborative ecosystem between the industry and the regulator. The initiative marks a movement towards pragmatic, technology-enabled regulation to balance strong regulation with a favorable business environment for domestic as well as foreign investors.

High points:

SEBI invites suggestions from the industry to relax regulations and enhance ease of doing business.

Areas of focus are LODR, fundraising, and takeover rules.

Industry leaders have to give lucid reasons and advantages for proposed changes.

SEBI is still dedicated to market integrity and adherence.

FICCI will present formal suggestions in the next few days.

Sources: Business Standard, The Hindu BusinessLine, Kotak Securities