Chapter 47: The Securities and Exchange Board of India | 605 |
advising listed companies are required to abide by the Code
of Corporate Disclosure Practices specifi ed in SEBI (Insider
Trading) Regulations.
(ii) Effi cient and effective market system: In the opinion of the
Chairman of SEBI, the Indian securities market has a large
infrastructure to meet the demands of a sub-continental market.
Presently, there are 24 stock exchanges and about 10,000 bro-
kers, 15,000 sub-brokers, more than 10,000 listed companies,
500 foreign institutional investors, 400 depository participants,
150 merchant bankers, 40 mutual funds offering over 450
schemes and 20 million investors. Yet, there is only one regula-
tor. Not only the numbers are gigantic but ...