More Stories

Informist, Thursday, Aug 29, 2024

 

--SEBI Buch: Fintech is about weaving things to make them simple

--CONTEXT: SEBI Chairperson Madhabi Buch at Global Fintech Fest

--SEBI Buch: Regulation, compliance important to foster trust in system

--SEBI Buch: Regulatory innovations come in grey areas

--SEBI Buch: Have been working to encourage low-cost innovation

--Buch:If investor gets short-changed, SEBI will say no to innovation

--SEBI Buch: Encouraged by speed of fintech uptake by investors

--SEBI Buch: Got 6,000 responses on F&O consultation paper

--SEBI Buch:Dozen AI projects underway to hasten approval, supervision

 

MUMBAI – The Securities and Exchange Board of India encourages low-cost fintech-based innovation by participants in the securities market ecosystem, but will say "no" to it nine times out of 10 if it believes there is a risk of investors getting shortchanged or if there are too many uncertainties around its impact on investors, Chairperson Madhabi Puri Buch said today. She was speaking on the role of fintech in ease of doing business at the Global Fintech Fest in Mumbai.

 

The SEBI chief said that the role of fintech in ease of doing business is about weaving things to make them simple for the market, but much of the real tech-based innovations come in grey areas where it is hard for the market regulator to give an upfront "yes" or "no".

 

This is important because regulations and compliance are important to foster investors' trust in the system, Buch said. However, SEBI is encouraged by the speed of uptake of various fintech-based innovations by investors, she added.

 

SEBI internally uses technology to speed up supervision of market players and grant approvals for offer documents and other applications by market intermediaries, Buch said, adding that there are currently a "dozen" artificial intelligence-based projects underway in this direction.

 

The market regulator also uses technology to collate responses to its public consultation process when effecting changes in regulations, she said. For the equity futures and options consultation paper issued recently, for instance, SEBI got 6,000 responses, Buch added.  End

 

Reported by Rajesh Gajra

Edited by Namrata Rao

 

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2024. All rights reserved.