For fast-track clampdown on erring firms, markets watchdog Securities and Exchange Board of India (Sebi) has decided to lay out strict timelines for completion of actions and create a central database of monitoring systems in the current fiscal. As part of its proposed Plan of Action for the financial year 2015-16, the Securities and Exchange Board of India will also streamline its enforcement process by focusing on reducing the delays. Besides, it would lay out strict timelines for completion of actions, put in place efficient follow-up mechanisms and create a central database of enforcement actions and monitoring systems. Sebi is already working on further streamlining the enforcement process to ensure uniformity in approach and improve the efficiency of enforcement proceedings across the organisation, the regulator had said after its board meeting last month.
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