Experts seek insider trading norm revamp

The Securities and Exchange Board of India (Sebi) should drastically revamp insider trading regulations and work more effectively to protect the interests of investors, experts at a seminar said.

Former executive director of Sebi and senior central government standing counsel at the Gujarat High Court Dharmishta Rawal, Bayer ABS Ltd company secretary and general manager, legal, Suryakanth Vaishnav, Sebi corporate restructuring division general manager S V Muralidhar Rao and IL & FS InvestSmart Ltd chief operating officer (international business and placements) Girish Nadakarni were the guest speakers at the seminar.

Institute of Company Secretaries of India standing central council member Bipin Acharaya, said, "Sebi has come out with prohibition of insider trading. Insider trading has been the most successful malpractice resorted to by market operators in connivance with insiders of listed corporate."