Mumbai, July 6: The Securities and Exchange Board of India (SEBI) Chairperson Tuhin Kanta Pandey on Saturday said that the regulator will not tolerate market manipulation, a day after US trading entity Jane Street and three of its related entities were barred from accessing the market.
The SEBI chief, speaking to the media here, said the capital markets regulator has also enhanced surveillance of such illegal practices. “Market manipulation is not going to be tolerated,” he added. Addressing an event organised by the Bombay Chartered Accountants Society, Pandey said transparency in disclosing related party transactions, managing conflicts of interest and presenting material developments in a timely manner are “non-negotiable responsibilities” for the CAs. “You have a critical responsibility to ensure that corporate governance is not reduced to a checklist,” he said, adding that too much of compliance adds to a big compliance burden and “we would also like to see wherever we have the possibility of doing better results with less compliance”.