Sebi chief hints at better, simpler rules

The Securities and Exchange Board of India (Sebi) chairman M Damodaran today said the regulator was moving towards a simpler, better and long-term regulations.

Rules should have clarity so that they could be easily understood, he said, speaking at an international seminar on corporate governance here.

"We are making a progress toward simpler, better and long term regulations. But, once an issue is solved the regulation itself should not become an issue.

"We need to bring in flexibility to move away from regulation, once the issue is over," the Sebi chief said.

He said regulators have to play a facilitator's role while ensuring that rules are simple, easy-to-understand and help in orderly conduct by companies.

Favouring continuity in policy formulation, he said regulations were necessary for ensuring orderly conduct by corporate entities.

Investors must be able to access relevant information in time and form in which it is needed, he added.