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Home > Business > PTI > Report
Steps taken to protect investors: FM
May 09, 2003 15:01 IST
Government and the Securities and Exchange Board of India have taken a number of measures to further enhance the efficiency and safety of the markets and ensure investor protection, Finance Minister Jaswant Singh said in Lok Sabha on Friday. Making a statement on the action taken report on the recommendations of the Joint Parliamentary Committee on stock market, Singh said Sebi had also set up a separate division for inspection of exchanges and taking follow-up action on the status of compliance of recommendations. In respect of important recommendations about corporatisation and demutualisation of stock exchanges, the government has initiated measures to amend the Securities Contracts Regulation Act, 1963. Meanwhile, broker members have been disallowed to become office bearers of stock exchanges, he said, adding the government has taken steps to honour the commitments made by the Unit Trust of India to investors of US-64 scheme and assured return schemes. All the NAV based schemes are being managed by UTI-II, which is Sebi compliant, he said.
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