Sebi forms working groups to simplify various market regulations
Sebi) on Wednesday in a statement said it has formed several working groups to simplify various rules falling under the regulator.
The move follows the announcement in the Union Budget earlier this year, where the government vowed to carry out a review of existing financial sector regulations.
«To simplify, ease, and reduce the cost of compliance, financial sector regulators will be requested to carry out a comprehensive review of existing regulations. For this, they will consider suggestions from public and regulated entities,» Sitharaman had said.
There will be time limits to decide the applications under various regulations, the finance minister had said, adding that public consultations, as necessary and feasible, will be included in the process of regulation-making.
«Pursuant to the Budget announcement, Sebi constituted working groups to recommend simplification of various regulations,» the regulator said in a statement.
The working groups will also look into the compliance requirements to enhance the ease of compliance and a reduction in the cost of compliance.
