The Hindu Business Line : Investor education top priority for SEBI in 2008

Mr M. Damodaran, Chairman, SEBI, along with Mr Bill Kwok, Chairman, ASAF, during a conference on "Asian Capital Markets-The Way Forward,” organised by Asian Securities Analysts Federation in the capital on Friday. —

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New Delhi, Nov. 23 SEBI has called for greater investor education and better law enforcement in the Asian capital markets, including India.

“Asian markets are big and are growing. Enforcement in our markets has to be much better, much quicker.

“We must identify mischief-makers and need to ensure investor education is taken in our jurisdiction,” the SEBI Chairman, Mr M. Damodaran, said while addressing a conference organised by the Asian Securities Analysts Federation.

Insider Information

He also said that regulators cannot have knee-jerk reactions to the developments in the markets and will have to make rules and principle-based regulations to avoid any systemic risks.

Pointing out that some of the Asian markets are playgrounds where insider information is disproportionately present and used, the market regulator called upon analysts to have an industry code for objective and fair assessment of stocks. “Asian markets, particularly India and China, cannot gloat over the fact that their economies continue to grow at fast pace and must put in place risk management systems to see that markets function in orderly and sustainable manner.” Mr Damodaran added that we cannot sit back on the weaknesses but build on the strengths.

Investors Education

“We have to put in place practices that are better suited to our markets at present and world over, investors are not given the kind of attention they deserve despite the fact that they are most critical to the markets. However, in India, SEBI and the Government have decided to make investors education the top priority in 2008,” the SEBI chief said.

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Investor education top priority for SEBI in 2008