Sebi asks exchanges to post all orders on websites

Market regulator Securities and Exchange Board of India has directed stock exchanges to post all their regulatory orders and arbitration awards on websites from this fiscal to ensure greater transparency for investors.

The exchanges have also been asked to post all such orders since April 1, 2007, on their websites within 30 days.

Sebi said the move, prompted by feedback from investor associations, aims at improving transparency in disclosing regulatory orders and arbitration awards issued by stock exchanges.

'All regulatory orders and arbitration awards as and when issued by Exchanges from the date of this circular (April 1, 2010) shall be posted on their Website immediately,' said a Sebi circular on Thursday.

Besides, it added, that exchanges 'shall post all their regulatory orders and arbitration awards issued since April 1, 2007, on their websites within 30 days.'

It said the directive covers all orders against listed companies and trading/clearing members issued by stock exchanges.

Sebi said exchanges will have to inform the regulator about the implementation status of the directive in their monthly/quarterly development report.