Sebi to put in place framework to prevent frauds by stock brokers
时间:2024-09-29 02:46:59 阅读(143)
Markets regulator Sebi on Wednesday approved a slew of proposals, including ending the practice of individuals holding permanent directorship at boards of listed companies and putting in place a framework to prevent frauds by stock brokers.
The proposals were cleared by the board of the Securities and Exchange Board of India (Sebi) during its meeting here on Wednesday.
Besides, the regulator has given its nod for norms for Environmental, Social and Governance (ESG) disclosures by listed companies.
According to a release issued after the board meeting, Sebi said it has decided to end the practice of individuals having permanent seats at boards of listed companies. The move is part of efforts to further boost the corporate governance ecosystem.
Among other measures, the regulator will put in place a formal mechanism to prevent frauds and market abuse by stock brokers.
Further, Sebi will introduce fund-blocking facility for secondary market transactions like being done for Initial Public Offerings (IPOs). The measure is aimed at safeguarding investors’ money from misuse by stock brokers.
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