Securities Exchange Board of India says no discussions underway on enhanced prosecution powers for review of Securities Contracts Regulation Act

The statement follows a media report that the Securities and Exchange Board of India (Sebi) plans to set up an expert panel to suggest changes to the 67-year-old Act.

Capital markets regulator Sebi on Friday said there are no ongoing discussions for any enhanced prosecution powers to it and it is not forming any committee for review of the Securities Contracts (Regulation) Act of 1956.  The statement follows a media report that the Securities and Exchange Board of India (SEBI) plans to set up an expert panel to suggest changes to the 67-year-old Act.

The report further said there is a discussion going on about enhanced criminal prosecution powers for SEBI and this issue is also likely to be examined by the committee.