Mumbai (Maharashtra) [India], September 14 (ANI): Chairperson of capital markets regulator SEBI Madhabi Puri Buch said every single policy it brings out is totally backed by proper data.
“We will rely on and be led by data. Every single policy that SEBI brings out today is backed by data,” Buch said on Tuesday while speaking at the 19th Annual Capital Markets Conference ‘CAPAM 2022’, organized by industry body FICCI.
In her address, the SEBI chief highlighted its role which is to facilitate capital formation and added that nation-building is done by corporates and businesses.
Buch also said that the regulatory body was fully appreciative of opportunities in India, and it is through technology that the country can achieve its goal.
Further, speaking about the need for more transparency, Buch said: “At SEBI, we follow a disclosure-based regime. This is our fundamental regulatory approach. We believe we exist for the capital formation of the economy. Unless trust in the system is protected, we will fail in our core objective. One of the most important aspects of trust-building is transparency. This is the important mantra for SEBI.”
She further reaffirmed her commitment to the process of consultation with the industry while pressing on the need to keep up with the pace of SEBI regulations.
“We need to manifest the spirit of partnership between SEBI and industry. Every action at SEBI is contingent on data and will be taken after recommendations from the advisory committee,” Buch was quoted as saying by the industry body.
At the conference, the SEBI chairperson launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of all SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.
The initiative is a state-of-the-art technology solution built to transform compliance across organizations. It allows tracking of over 2,000 SEBI compliances and auto-generation of select SEBI disclosures. Additionally, the platform has other features like end-to-end board meeting management, compliance document management, and the generation of compliance calendars. (ANI)