New Delhi: The Securities and Exchange Board of India (SEBI) on Wednesday approved several proposals to further improve the share market system and corporate governance. This includes putting an end to the practice of people being permanently on the board of directors of market-listed companies and regulations to check fraud by stockbrokers.
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These proposals were approved in the meeting of the Board of Directors of SEBI held on Wednesday. The regulator also gave its consent to the regulatory framework for private equity funds to become sponsors of mutual funds. This move will help in promoting mutual funds investments.
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The market regulator will introduce the facility of ‘blocking’ the fund for share trading markets like initial public offerings (IPO). The objective of this initiative is to protect investors’ money to be misused by stockbrokers.
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