By TIOLCORPLAWS News Service

MUMBAI, SEPT 12, 2018: THE SEBI Chairman, Mr Ajay Tyagi, yesterday expressed great hope and optimism for Indian capital markets in the New India envisioned by the Government. He was speaking at the inaugural session of 15th CAPAM, the Annual Capital Market Conference organised in Mumbai by the Federation of Indian Chambers of Commerce and Industry (FICCI).

“Indian securities markets exhibited positive trend during 2017-18 with increased resource mobilization through issue of equity as compared to the previous financial year. And the current year promises even more action,” he said in his inaugural address. This success could be attributed to stable macro‐economic fundamentals, political stability and the structural reforms that the present government has been endeavouring towards over the last couple of years. Backed by strong inflows and increased participation of retail investors, the Indian IPO market witnessed heightened activity in the previous year.

Market integrity and fair conduct are cornerstones of an efficient capital market. It is extremely important to prevent fraudulent and unfair trade. The Chairman also informed the gathering that a view on the Report on Fair Market Conduct, submitted by the Committee chaired by Dr. T K Viswanathan, is to be formulated shortly.

Another key focus area is Cyber Security, which has gained huge significance in the last few years. Taking cognizance of this challenge, the Regulator plans to expand the scope for cyber security initiatives for market infrastructure institutions so as to reduce the element of uncertainty in the market.