SEBI alerts investors about risky market
January 14th, 2011 - 7:54 pm ICT by IANSAgartala, Jan 14 (IANS) Capital market regulator Securities and Exchange Board of India (SEBI) Friday asked investors to remain alert about the risky market.”The SEBI has toughened its actions and is intensifying surveillance over the capital market to check fraudulent and illegal acts,” SEBI chairman C.B. Bhave said while addressing a national seminar on investors protection.
“As part of its intensified measures, SEBI has collected fines of Rs.150 million in 13 years (1995-2008) and Rs.1 billion during the past two years (2008-2010) from those companies and capital market violators.”
According to the SEBI chief, people in many cases fall into the trap of hefty returns in quick succession from their investments in the capital markets or unauthorised financial institutions.
“As part of systematic solutions and enforcement, SEBI with the empowerment to regulate the capital market has been gradually changing its mechanism and functioning.”
There are multiple agencies and numerous acts to deal with the fraudulent and illegitimate acts of business in the capital market, he stated.
Bhave said: “ASBA (application supported by blocked amounts) is a process developed by the SEBI for applying to IPO (initial public offers). In ASBA, an IPO applicant’s account doesn’t get debited until shares are allotted to him.”
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