Financial Daily from THE HINDU group of publications
Friday, Dec 20, 2002
Financial Daily from THE HINDU group of publications Friday, Dec 20, 2002 |
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Economic Offences Markets - Economic Offences `Super-regulator not needed' Our Bureau
NEW DELHI, Dec. 19 THE Joint Parliamentary Committee probing into the securities scam has voted against a super-regulator for the financial markets, saying that the monitoring of the financial and capital markets can be handled by the High Level Committee on Capital Markets. In its report tabled in Parliament today, the JPC has said that HLC should undertake a regular review of the "position regarding financial and capital markets." According to it, HLC did not look into the general situation of the economy or the stock market and did not make any recommendations barring those relating to co-ordination of activities of various regulators such as Department of Company Affairs, Reserve Bank of India and Securities and Exchange Board of India.
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