May 8, 2016,
Sebi is working on a financial market training module for police and plans to enhance its engagement with law enforcement and investigative agencies to help them better understand the contours of financial crimes.
The proposed measures are aimed at ensuring faster prosecution in cases involving capital market crimes and also better deal with the complaints from the investors duped by ponzi schemes and various market manipulative activities.
Often, there have been complaints from the general public and other quarters that investors find it hard to explain to the police the finer details when they go to file complaints about certain financial market dealings, including fraudulent activities, a senior regulatory official said.
At the same time, there have been also cases when various enforcement and investigative agencies have found it difficult to understand the ‘complex’ financial market products, resulting in unnecessary delay in action against the culprits while sometimes even genuine market dealings have come under scanner due to lack of proper understanding of such trades.
The proposed measures — training modules for police and greater engagement with enforcement and investigative agencies — are aimed at filling this gap and also ensure greater cooperation for safeguarding the investors’ interest, the official added.