'Sebi will hold individuals accountable for irregularities'

To bring greater accountability in stock market, Sebi is now holding individuals also accountable along with their companies for any misdeeds, chairman U K Sinha said today.

"We will be presenting guidelines for better corporate governance in listed companies in coming days," Sinha said, addressing a conference here on 'New Initiatives – Investor Protection and Investor Education.

Also read: Sebi warns public against high returns via illegal schemes

He said that improvement, in terms of rules, will also be made in the system of companies merger and acquisition. Saying that one mistake can push market 10 years back, Sinha stressed that the system has to be made accountable hence Sebi is now making individuals accountable, along with companies, for any misdeed and penalises them.

He also said there is a need for a well managed market and proper regularisation for attracting more investment. The conference was organised by PHD Chamber of Commerce to create awareness among investors and educate them in perspective to the current investment trends.

Earlier in the day, Sebi opened its new premises of its office here, that will facilitate issues related to investor protection and education in the region.

The new office located at the LIC Building, Ambedkar Circle was inaugurated in the presence of Sinha.

"Grievance redressal, investors' training and regularisation of brokers will our key focus areas here. To protect investors' interests is our top priorities and we will train them in programmes here," he said.

"The jurisdiction of the local office at Jaipur whose new premises was inaugurated today extends to the state of Rajasthan," Sebi said in a release today.

"The local office of Jaipur is under the administrative control and jurisdiction of Sebi's Regional Office at Ahmedabad," it added.

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