Stock Markets Won't be Allowed for Making Undue Gains: BSE

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    New Delhi, Jan 19 (PTI) As a probe continues into misuse of stock trading for tax evasion and routing of black money, top bourse BSE says that regulators and exchanges keep a constant vigil to thwart any attempt to make undue gains through the markets.

    Stock Markets Won't be Allowed for Making Undue Gains: BSE

    "Regulations are constantly evolving and Sebi is one of the finest and most forward looking regulators. We work with the regulator to ensure that any misuse of public platform like stock exchanges is minimised and at the same time the trading and price discovery happens normally.

    "This ensures providing a fair and transparent market for the investors, which is very important," BSE CEO Ashish Chauhan told PTI.

    He was replying to a query on additional responsibilities given by Sebi to the stock exchanges as front-line regulators in the Indian markets and the recent cases of alleged misuse of stock market platforms for routing of black money or tax evasion purposes by some cartels.

    Without replying to specific cases, Chauhan said, "As and when any issues are identified, new measures are implemented.

    Last year, Sebi gave the exchanges additional responsibility of checking with the listed companies about the veracity of news published about them. "We have invested into teams and technologies to ensure that the companies provide necessary clarifications for the benefit of investors. We have also created a portal for the listed companies to report their compliances whether with regard to corporate results or other developments through a automated route. There is a two-factor authentication process involved."

    Chauhan further said that the exchange and the regulatory authorities have taken several steps and Sebi is on constant vigil. "As and when any fresh step is required, BSE would be the first to comply.

    Basically, providing safe markets is very important and any misuse of public platforms like stock markets for undue gains has to be stopped immediately," he added. 

    PTI

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