We caught firms at pump stage, saved ₹22,000 cr

In a media conference after the board meeting, Sebi chairperson Tuhin Kanta Pandey, along with whole-time members Ananth Narayan, Ashwani Bhatia, Amarjeet Singh, and Kamlesh Chandra Varshney made several important observations about the regulatory posture across segments.

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Excerpts:

What is the current regulatory stance on speculation through F&O trading and expiry day?

Ananth Narayan (AN): The actions that were taken in October last year were specifically directed to tackle the issue of overtrading in index options on expiry date and that remains the objective for Sebi. About expiry days across exchanges, we said that we will allow each exchange to have one expiry or weekly expiry and right now we have two days of the week, which we think is comfortable.

We will come out with a white paper giving out what the impact in the market has been but very broadly our objectives have been achieved, as there has been a decline in index options trading on expiry day. So our objectives have been pretty much being met.

Should there be further clamping down of shell companies by the regulator, in cases of corporate frauds?