Securities Market Regulations: Lessons from US and Indian Experience

The ICRA Bulletin, Money & Finance, Vol. 2, No. 20-21, Jan-Jun 2005

42 Pages Posted: 3 Jun 2008

Date Written: 2005

Abstract

The purpose of this study is to take stock of the regulatory infrastructure of the Indian securities market and see whether there exist well formulated laws with well-defined scope and powers of the regulator, capable of presenting all investors in the Indian market with a level playing field. We summarise some of the regulatory provisions that have evolved for tackling market misconduct and try to see what comes in the way of regulatory action aimed at investor protection in India, as compared with the US which is perceived as the world's most safe and liquid capital market. We also discuss the roles of the stock exchanges and electronic databases in aiding the regulator in prevention, detection and conviction of securities frauds. One tends to conclude that the scope of Indian securities laws, which have gradually evolved over time, is now quite pervasive and the problem lies mostly in enforcing compliance particularly for crimes such as price manipulation and illegal insider trading.

Keywords: Securities market laws and regulation in India, Comparison with US, SEBI, SEC

JEL Classification: K22, N20

Suggested Citation

Bose, Suchismita, Securities Market Regulations: Lessons from US and Indian Experience (2005). The ICRA Bulletin, Money & Finance, Vol. 2, No. 20-21, Jan-Jun 2005. Available at SSRN: https://ssrn.com/abstract=1140107

Suchismita Bose (Contact Author)

ICRA Ltd ( email )

5th Floor, Karumuttu Centre
498 Anna Salai
Chennai, 600 035
India
+91 44 2434 0043 (Phone)
+91 44 2434 3663 (Fax)

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