Earlier, the market regulator needed the consent of a district magistrate of the particular area to carry out searches. Sebi had complained that this led to leakage of information that compromised secrecy.
The Lok Sabha today passed the Securities Laws Amendment Bill (Sebi). The changes to the law gives Sebi more powers to crackdown on ponzi schemes.
Also read: With fewer teeth than desired, can Sebi bite under new law?
Earlier, the market regulator needed the consent of a district magistrate of the particular area to carry out searches. Sebi had complained that this led to leakage of information that compromised secrecy.
The regulator had also sought powers to carry out search and seizures without any court authorisation.
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