The Securities and Exchange Board of India (SEBI) on July 14, 2023, issue a notification clarifying that no committee has been formed to review the Securities Contracts (Regulation) Act, 1956.
The following has been stated namely: -
• The news appeared on July 14, 2023, stating that “SEBI to set up a panel to suggest changes to SCRA”
• The news stated that SEBI planned to form an expert committee to suggest changes to the 67-year-old Securities Contract Regulation Act (SCRA). Further, the news stated that there is a discussion going on about enhanced criminal prosecution powers for SEBI.
• It is clarified that all of the above is false and no such committee is being set up by SEBI
[Press Release No. 13/2023]
