India’s Securities Markets Code: Lawmakers must put Sebi’s revisionary authority to scrutiny
· livemint.com
The regulator shouldn’t be in a position to judge its own order. The Centre should instead replace this proposal of extraordinary authority with a right to appeal to the Securities Appellate Tribunal.
The deeper problem, however, is structural: who revises, on what trigger and with what consequences for the finality of a quasi-judicial order? Sebi can call fo...