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SEBI may tweak laws to enhance compliance, transparency

business Updated: Feb 05, 2009 14:05 IST

SEBI will examine if there is a need to tweak existing regulations to enhance compliance, transparency and efficiency in the corporate system in the light of the Satyam scandal.

"Over the medium-term, we need to decide (if) any tweaking of regulations is needed to put in place an enhanced level of compliance, transparency and efficiency," SEBI Chairman C B Bhave said at a CII conclave in Mumbai on Thursday.

The regulator was conscious of the aberrations in the corporate governance standards in the country but "there is a need to avoid temptations to come to any quick conclusions in such cases about systemic stability," he said.

"SEBI is conscious of this (Satyam-like cases) and is determined to see that we play our part... We have to avoid the temptation to come to any quick conclusions," he said.

While SEBI was always prepared to face the challenges that may arise anytime, its preference was to encourage companies to comply with corporate governance standards on their own.

"The preference is not to legislate too many things but (instead) encourage companies to make some efforts on their part to ensure that they comply with corporate governance standards," Bhave said.