Sebi set to fasttrack market reforms

Seeking to expedite its various reform measures to deepen the capital markets, the Sebi is set to usher in easier capital raising norms for startups and remove ambiguities from its takeover regulations.

The Securities and Exchange Board of India (Sebi) is also set to announce a new set of norms for index providers that would regulate changes in constituents of the key stock market indices, including Sensex and Nifty.

The regulator, whose board would discuss this on Saturday, apart from a plethora of proposals regarding distribution of various cash benefits through depositories and a greater clarity on merger and acquisition norms for listed companies, has also lined up an extensive consultation process with various entities including stock exchanges, brokers and mutual funds.

Other proposals on the agenda include a favourable tax regime for alternative investment funds (AIF) and easier access to capital for startups and new avenues like crowdfunding, a senior official said.

Issues relating to algo trades and co-location services, as also new products and new investor classes in commodities market, are also on agenda.

In its meetings with various market entities, the regulator plans to push for faster listing of stock exchanges, greater disclosure of commissions paid to mutual funds distributors, as also the various steps announced by the regulator and the government for the benefit of the market and the investors.