Regulating the Regulators

K.Haputantri · 1 Regulating the Regulators Thu Dec 15, 2011 12:44 pm

K.Haputantri

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In a resent editorial of Daily Mirror, there was a suggestion for SEC members to declare their assets liabilities. As far as I remember, all SEC members and Staff Grade officials of SEC are considered as public servants, hence, they are required by law to declare their assets & liabilities annually prior to 30th June. Pl correct me if I am wrong.

I would like to go further and propose that regulations be brought out to mandate them to declare in writing within a specified period of any share transactions executed by them & their kith & kin as well.

Comments are welcome.

kam2011 · 2 Re: Regulating the Regulators Thu Dec 15, 2011 1:54 pm

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That's a good idea. But one can engage in share trading under someone else name.

sidath perera · 3 Re: Regulating the Regulators Fri Dec 16, 2011 9:36 am

sidath perera

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as far as I know SEC staff are not allowed to trade in the SEC and are only allowed to apply for IPO's. And I'm not sure but I think they are permitted to invest in unity trust. Their next of kin are also not allowed to trade and have the same restrictions as staff.

This was told to me by a friend who is a former SEC employee says all staff members have to fill in a declaration of assets as well.

Off course if company insiders and stock brokers can have un traceable nominee accounts, why not regulators ??

econ · 4 Re: Regulating the Regulators Fri Dec 16, 2011 9:40 am

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they have many friends and family members do things on behalf of them.

aj · 5 Re: Regulating the Regulators Fri Dec 16, 2011 10:08 am

aj

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If the SEC really wanted to earn money why not let the manipulators run the show and ask a certain percentage to be forwarded to them. Wouldn't it be much easier than doing risky trades by themselves or their family. If that was the real case, last duo could have still stayed in position.

Rajaraam · 6 Re: Regulating the Regulators Fri Dec 16, 2011 9:56 pm

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@aj wrote:If the SEC really wanted to earn money why not let the manipulators run the show and ask a certain percentage to be forwarded to them. Wouldn't it be much easier than doing risky trades by themselves or their family. If that was the real case, last duo could have still stayed in position.

How do you know that they didn't?

Marketinvest · 7 Re: Regulating the Regulators Fri Dec 16, 2011 11:15 pm

Marketinvest

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@aj wrote:If the SEC really wanted to earn money why not let the manipulators run the show and ask a certain percentage to be forwarded to them. Wouldn't it be much easier than doing risky trades by themselves or their family. If that was the real case, last duo could have still stayed in position.

sir u cant rule out any possibility specially in emerging markets.
But what i got to know is some institutional fund managers have played a great game. For instance EPF..

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Regulating the Regulators

1 Regulating the Regulators Thu Dec 15, 2011 12:44 pm

K.Haputantri

2 Re: Regulating the Regulators Thu Dec 15, 2011 1:54 pm

kam2011

3 Re: Regulating the Regulators Fri Dec 16, 2011 9:36 am

sidath perera

4 Re: Regulating the Regulators Fri Dec 16, 2011 9:40 am

econ

5 Re: Regulating the Regulators Fri Dec 16, 2011 10:08 am

aj

6 Re: Regulating the Regulators Fri Dec 16, 2011 9:56 pm

Rajaraam

7 Re: Regulating the Regulators Fri Dec 16, 2011 11:15 pm

Marketinvest

8 Re: Regulating the Regulators

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