Sebi may get to seize assetsN Mahalakshmi / Mumbai March 13, 2006The Securities and Exchange Board of India (Sebi) will soon have explicit powers to seize assets of erring market entities. Sources close to the developments said an amendment to the Sebi Act would be made soon to empower the regulator in this regard. This will be part of amendments that are proposed to be made along with the Budget announcement to empower Sebi to set up an Investor Protection Fund using fines collected by the regulator.Currently, the regulator has certain implicit powers to fine erring market participants under the Sebi Act and the Fraudulent and Unfair Trade Practices (FUTP) regulations. Section 11(4) of the Sebi Act allows the regulator to
