India: Financial Sector Assessment Program—Detailed Assessments Report on IOSCO Objectives and Principles of Securities Regulation
IMF Staff Country Reports, August 29, 2013
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- India: Financial Sector Assessment Program—Detailed Assessments Report on IOSCO Objectives and Principles of Securities Regulation
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Bibliographic details
- Published: August 29, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475587234.002
Executive summary and main findings
- The paper discusses findings of the assessments on International Organization of Securities Commissions (IOSCO) Objectives and Principles of Securities Regulation for India.
- India exhibits significant progress in the implementation of the IOSCO Principles vis-à-vis the assessment concluded in 2000.
- The Securities and Exchange Board of India (SEBI) faces three main challenges that altogether impact the effectiveness of the supervisory programs for issuers and securities intermediaries:
- strengthening the supervision approach toward securities intermediaries,
- improving mechanisms to ensure compliance of issuers with reporting requirements,
- mechanisms to ensure compliance with accounting and auditing requirements.
- SEBI is aware of such challenges, and some measures are currently being implemented to address them.
Subject coverage and keywords
- Subject: Accounting standards, Financial institutions, Financial markets, Mutual funds, Public financial management (PFM), Securities, Securities markets, Stock markets
- Keywords: Accounting standards, asset management company, business model, CR, Global, insider trading, ISCR, mutual fund, Mutual funds, risk management, SEBI regulation, SEBI staff, Securities, Securities markets, stock futures, Stock markets
Institutional context and implications
- The assessment evaluates SEBI’s implementation of IOSCO Objectives and Principles of Securities Regulation and documents progress since 2000.
- Identified supervision and compliance weaknesses imply targeted reforms in supervisory approach, issuer reporting enforcement, and accounting and auditing compliance are priorities.
- Ongoing measures by SEBI to address these areas are noted in the assessment.
International Monetary Fund. Monetary and Capital Markets Department "India: Financial Sector Assessment Program—Detailed Assessments Report on IOSCO Objectives and Principles of Securities Regulation", IMF Staff Country Reports 2013, 266 (2013).
Content in this bundle
- _cr13266 — Executive Summary and Key Findings