Chairman Tuhin Kanta Pandey says Sebi won’t be surprised at F&O contract changes
Tuin Kanta Pandey, chairman of the Securities and Exchange Commission of India (SEBI), said on Friday that any decision on extended goods and options (F&O) contracts, including changes to the weekly expiration system, will be transparently transmitted to the market without any sudden announcement.
Pandey solved the media’s problems and said they are constantly monitoring the development of the derivatives segment.
Some correction steps have been implemented and relevant data have been shared.
“If further decisions are made, there will be full transparency – we won’t be surprised,” he said.
In terms of investor protection in the derivatives market, he stressed that SEBI remains vigilant and focuses on ensuring market integrity.
The SEBI chief responded to questions about the violations reported by the Industrial Bank and acknowledged the challenges of early detection.
It’s impossible to know everything in advance, but we do receive financial data regularly and hold meetings. Going forward, he said, we need to develop systems that can help identify violations through better data analytics.
Asked about the ongoing Jane Street case and whether SEBI shared information with the income tax department, Pandey clarified that information was frequently exchanged between regulators and law enforcement agencies.
He noted that each agency has its authorization and when information is received, it is properly shared to ensure coordinated action.
Earlier in July, Pandey said about Jane Street’s issue that there was no need for new regulations, but more powerful enforcement and surveillance.
Manipulation can be expressed in different forms. He said our PFUTP (Prohibiting Fraudulent and Unfair Trade Acts) prohibits such behavior and SEBI has the right to investigate and take action against any violations.
