<p>In a major overhaul of its functioning, capital markets watchdog Sebi (Securities Exchange Board of India) has fixed one-year target for completion of all its investigations, while sharply focusing on cases involving bigger offences.<br /><br /></p>.<p>Under the new system put in place, as per recommendations of an independent consultant, this 12-month target would apply to all the cases where an investigation has been initiated this year onwards, Sebi Chairman U K Sinha said. At the same time, the Securities and Exchange Board of India has expedited its probe into all long-pending cases and their numbers have been brought down drastically. <br /><br />“There are 221 investigations pending with Sebi right now. Out of these, there are only 20 cases that are more than three-year old and 86 cases are of one year or less,” Sinha said.The Sebi chief also gave a stern warning to those indulging in bigger offences, saying that such cases were being dealt with extra focus and most of the smaller offences were being prevented very effectively by a robust surveillance system put in place at the regulatory authority. <br /><br />At the same time, the surveillance mechanism is also ensuring a continuous pipeline of cases for further follow-ups including by way of investigations, Sinha said.<br /><br />Expressing confidence that the new target would be achieved, the Sebi chief said that the regulator began working on this new system nearly two years ago.<br /><br />Sinha said Sebi is already moving in that direction and the number of cases that are more than three years have come down drastically.</p>
<p>In a major overhaul of its functioning, capital markets watchdog Sebi (Securities Exchange Board of India) has fixed one-year target for completion of all its investigations, while sharply focusing on cases involving bigger offences.<br /><br /></p>.<p>Under the new system put in place, as per recommendations of an independent consultant, this 12-month target would apply to all the cases where an investigation has been initiated this year onwards, Sebi Chairman U K Sinha said. At the same time, the Securities and Exchange Board of India has expedited its probe into all long-pending cases and their numbers have been brought down drastically. <br /><br />“There are 221 investigations pending with Sebi right now. Out of these, there are only 20 cases that are more than three-year old and 86 cases are of one year or less,” Sinha said.The Sebi chief also gave a stern warning to those indulging in bigger offences, saying that such cases were being dealt with extra focus and most of the smaller offences were being prevented very effectively by a robust surveillance system put in place at the regulatory authority. <br /><br />At the same time, the surveillance mechanism is also ensuring a continuous pipeline of cases for further follow-ups including by way of investigations, Sinha said.<br /><br />Expressing confidence that the new target would be achieved, the Sebi chief said that the regulator began working on this new system nearly two years ago.<br /><br />Sinha said Sebi is already moving in that direction and the number of cases that are more than three years have come down drastically.</p>