01 October 2008

Removing the prohibition on OTC derivatives in securities

The Economic Times of 24th Sept 08 carries my piece recommending removal of the prohibition on OTC derivatives in securities. This is a very simple process of deleting one circular issued by SEBI in May of 2000 - there is no need to either modify the regulations or the statute to effect this - though given its importance, it may need to be discussed by the full Board of SEBI.

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