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The Securities and Exchange Board of India will soon come up with regulations on disclosures required to be made to stock exchanges by listed companies.
The new regulations will cover both the crucial aspects of timeliness as well as quality of disclosures being made by corporates, SEBI Chairman, U.K. Sinha, said on the sidelines of a PHD Chamber of Commerce event on capital markets here.
Currently, listed companies are required to disclose to stock exchanges all material events that could have a bearing on the stock prices.
But many listed companies are found wanting on the quality of disclosures being made to bourses.
To address this gap, SEBI is now looking to frame regulations to improve the quality of disclosures.
Sinha did not rule out levy of penalties in case companies failed to meet the disclosure requirements.
SEBI chief said that the capital market regulator is already in talks with stock exchanges to firm up the regulations. "The discussions are almost over. You will soon see the regulations," Sinha said.
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