Mumbai, September 28 (PTI) The SEBI Market Supervisory Board approved a power of attorney for investors in the securities market on Tuesday. This initiative will bring transparency to the investment process.
The investor charter covers the rights, obligations, what should and should not be in the securities market.
In addition, in consultation with various companies, regulatory authorities have also produced approval letters from investors for SEBI recognized market infrastructure institutions, registered intermediaries and supervised companies.
This way, investors get all the information they need in one place on the securities market. This includes what rights they have, services offered to investors by different subjects, time limits for different services provided to investors and compensation system for investor complaints, etc.
SEBI investor power of attorney and investor power of attorney from various intermediaries/companies will be available on the regulator’s website. It will also be available on the website of the intermediary or related institution.
Finance Minister Nirmala Sitharaman suggested introducing investor approval as an investor’s right on all financial products in the 2021-22 budget to protect investors.
Among other reforms, the SEBI Board of Directors has made several changes to the regulatory system for alternative mutual funds and portfolio managers.