Business Ethics and Corporate Governance, Second Edition

SUMMARY

To make SEBI perform and act like the Securities and Exchange Commission of the USA, government should provide it more powers to penalise and debar the wrongdoers. Further, government should also consider granting it powers for suo moto action on any matter connected with the capital market. Thus, if SEBI is to be successful in its role as a regulator, it needs to have more powers to prosecute the errant members of the system. If every announcement could be taken to court and eventually get it changed, there is no case for setting up of a separate regulatory body like SEBI. However, the consolation is that things are changing albeit slowly. Critics also have to appreciate the fact that in a developing economy such as ours where almost ...