- Starts work on a code of conduct for key executives of brokerages and MFs
- Announces a common defaulter database to help identify frauds
- Bans 197 FIIs and 342 sub-accounts from fresh positions in equity and derivatives for not meeting disclosure norms
- Suggests stronger self-regulation by merchant bankers for IPO pricing, advertising
- Announces more stringent 'Know-Your-Distributor' norms for MFs, distributors
- Bans entry loads for MFs; distributors have to earn commissions directly from customers.
These are tense days to play—or police—the Indian stockmarkets. Fuelled by foreign fund flows, the markets are well close to lifetime highs. But the celebrations are muted. Most experts do agree that the market, driven by a few players and pumped-up valuations, is setting itself up for a hard fall. Adding to this state of nervous...