SEBI's Powers to Grow. Who Will Oversee It?
Description
The government is quietly moving to give SEBI sweeping new powers through the proposed Securities Markets Code—but crucial details remain hidden from the public. There is no draft Bill, no white paper, and no clarity on how expanded authority will be balanced with accountability.
In this audio, Sucheta Dalal examines why consolidating India’s securities laws may be necessary—but dangerous—if governance failures remain unaddressed. From decades-old regulatory fragmentation and the unchecked expansion of depositories like NSDL, to unresolved conflicts of interest and weak oversight within SEBI itself, the risks are systemic.
The core question is simple but uncomfortable: can concentrated regulatory power work without equally strong checks and transparency? As Parliament prepares to consider the new Code, investors and citizens must ask—who will watch the watchdog?
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