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U.K. Sinha, Chairman, SEBI, said the market regulator is on top of the payment crisis at the National Spot Exchange Ltd and has taken enough safeguards from any spillover to equities.
Speaking on the sidelines of the launch of a corporate bonds database (jointly by the NSE and Prime Database) in Mumbai on Tuesday, Sinha said though there were brokers who were both in equities and commodities, they had to establish separate legal entities for registering themselves as commodity brokers.
“Equity brokers are well capitalised and have sufficient margins,” he said. SEBI will announce a couple of measures to boost liquidity in the bond market within the next couple of days, Sinha added.
SEBI is in the process of unveiling a new policy on mutual funds.
“There are smaller mutual fund houses which have been in existence for over a decade but have negligible market share (assets under management) and are present in only three to four cities,” he said.
“It is time to re-think on who is serious about taking that extra effort and reaching out to retail investors.
“Those who cannot do so may reclassify themselves as portfolio managers or alternate investment funds,” he added.
>raghavendrarao.k@thehindu.co.in
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