Every single policy that SEBI brings out today is backed by data, said Madhabi Puri Buch, Chairperson, Securities and Exchange Board of India, on Tuesday.
“SEBI is fully appreciative of opportunities in India, and it is through technology that the country can achieve its goal. We will rely on and be led by data,” she said while addressing the 19th Annual Capital Markets Conference ‘CAPAM 2022’, organized by FICCI. “Technology is the magic bullet and with technology, it is possible to reduce costs, serve the customer better, have better control and compliances,” she added.
To achieve the goal of SEBI, Buch emphasized on the need for more transparency. “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 an important mantra for SEBI. The role of SEBI is to facilitate capital formation and nation building is done by corporates and businesses.” she said.
The SEBI Chairperson also launched FICCI’s ‘RegTech’ initiative in partnership with TeamLease RegTech to facilitate end-to-end automation of SEBI compliances. This will digitize compliance for companies to stay on the right side of the law.
Ashish Kumar Chauhan, MD & CEO, NSE said that NSE is committed to follow and implement the agenda set by SEBI to enhance capital formation in the markets. “We will work to increase the trust of people in the stock market by using technology and creating a stronger bond and capital market,” he added.