MUMBAI: The Securities and Exchange Board of India (Sebi) will soon bring a system of single corporate filing with exchanges in a bid to ease compliance norms for companies, its chairperson Madhabi Puri Buch said.
“It is a work in progress. If you file your disclosure with one exchange, it will automatically populate on the website of other exchanges. This is a simple stuff that technology will enable,” Buch said at a CII summit on Monday.
Currently, a company listed on the NSE and BSE has to send disclosures to both the exchanges separately.
With a single filing system, companies will only need to send the disclosures to one exchange, and it will automatically get reflected on the other relevant exchanges.
Apart from easing compliance norms, the move is also aimed at improving efficiency in information dissemination, which would help investors.
Speaking about the adoption of technology, Buch said a large part of the Indian market is a pioneer and leader in deployment of technology.
Buch also spoke about the importance of consultation and the regulator’s commitment to do adequate consulting with the industry on all matters.
“There is no other way of doing the regulatory business other than to co-create. There is no way that without adequate consultation and co-creating, the regulator can come up with sensible rules, regulations, products and services, which will actually serve the market,” she said.
In this regard, Buch said the Sebi is the process of formalising the Industry Standards Forum, which was set up to formulate standards for the implementation of specific regulation and circulars, as a part of its regulatory architecture.
Buch also said that Sebi is working closely with the industry to make Rs 250 systematic investment plans (SIPs) a reality. She said the regulator has been working to ensure that it is viable.
“This (inclusion) is going to be an important driver for us going forward. Unless the cost comes down, inclusion cannot be a reality because we cannot force the market to sell a product. This is why we have taken so much time to make the Rs 250 SIP viable. If it’s not viable, it won’t fly. We need it to just fly off the shelf,” she said.
In her second public address post US-based short seller Hindenburg’s allegations, Buch said, “These days if I talk of REITs, I am accused of conflict of interest. Perhaps, it will be better for me to abstain.”
However, she went on to add that these are the emerging asset classes in the country. “Globally, they are large, strong. They monetise a lot of infrastructure of the country. They have a huge multiplier effect in terms of growth of the country,” she said.
Source: The Financial Express
Growth In Indian Manufacturing Sector Slows To 3-Month Low In August, PMI Dips To 57.5 