SEBI proposes curbs on derivative-linked share moves
The Hindu
The Securities and Exchange Board of India (SEBI), India’s market regulator, proposes measures to contain extreme price movements in shares on which futures and options trade, including longer trading suspensions and restricting price movements.
The Securities and Exchange Board of India (SEBI), India’s market regulator, proposes measures to contain extreme price movements in shares on which futures and options trade, including longer trading suspensions and restricting price movements.
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SEBI proposed in a consultation paper late on May 21 that if a share in the futures and options segment falls or rises by 10% a day, trading would be suspended for an hour, up from the current fifteen minutes, and then allowed to move only a further 2%, down from the current 5%.
The proposed restrictions follow a free fall this year in shares of billionaire Gautam Adani's group companies after U.S.- based short seller Hindenburg Research raised governance concerns in January. The group collectively lost more than $100 billion in market value soon after the Hindenburg report was published.
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If shares are flagged for additional surveillance and monitoring should there be a daily limit for price moves, the regulator said.
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Insurance penetration and density are often misunderstood and do not reveal how many families are insured or whether they would be financially secure if the main earning member were to die. The real issue is not reach but adequacy, as households may have life insurance but not enough cover to replace lost income, leaving them financially vulnerable.