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Chennai, Nov. 5 SEBI would try to fix certain common problems faced by retail investors through a systemic solution. The changing environment is throwing up several new issues, which have to be looked at from a systemic angle for a solution, Mr C.B. Bhave, Chairman, SEBI, said.

SEBI, he said, had been of late receiving complaints from investors on the maintenance of running accounts with brokers. It was now looking at the issue, he added. While the regulator could not ask the investors not to keep the running accounts with the brokers, SEBI would be looking at a systemic solution for this issue, he said.

On non-refund or delayed refund of money on un-allotted shares after the public issue, Mr Bhave said this also had to be addressed through a systemic solution, which needed lot of interface among multiple agencies.

Asked if it would not be a problem for mutual funds to compute net asset value on a daily basis once exchanges went for an extended trading hours, Mr Bhave said that SEBI did not want to interfere on the daily functioning of exchanges or fund-houses. “Once a system is in place, they themselves will evolve a solution to it,” Mr Bhave added.

On reservations expressed by some brokers to the extended trading hours’ proposal, Mr Ravi Narain, Managing Director of NSE, said that the SEBI had just given the clearance for extended trading hours and the exchange was still discussing issues with players concerned.

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