No discussions underway on enhanced prosecution powers, says Sebi

Capital markets regulator Sebi on Friday said there are no ongoing discussions for any enhanced prosecution powers to it and it is not forming any committee for review of the Securities Contracts (Regulation) Act of 1956.

The statement follows a media report that the Securities and Exchange Board of India (Sebi) plans to set up an expert panel to suggest changes to the 67-year-old Act.

The report further said there is a discussion going on about enhanced criminal prosecution powers for Sebi and this issue is also likely to be examined by the committee.

"In this connection, it is clarified that Sebi has neither formed nor has considered formation of any such Committee for review of the Securities Contracts (Regulation) Act, 1956 and there are no ongoing discussions for any enhanced prosecution powers for Sebi," the regulator said in a statement.