India’s equity markets are a success story in the country’s 70th year of independence, and there are two prominent state institutions responsible for this, the Securities and Exchange Board of India and the National Stock Exchange. SEBI has played an extraordinary role in bringing in market efficiency, but as the equity market regulator, it must have the corporate surveillance function as well
Advisor and Adjunct Senior Fellow, Geoeconomics Studies
KN 'Vaidy' Vaidyanathan is the Executive Vice President and Chief Risk Officer of the Mahindra Group. Prior to this, he was the Executive Director at SEBI in charge of institutional investors portfolio, including domestic (MF) and foreign (FII). Vaidy has over 25 years experience in financial services, primarily in the realm of asset management. He is an MBA from IIM Ahmedabad and holds a Bachelors's Degree in Commerce from the University of Madras. Vaidy is on the Finance Board of IIM Ahmedabad and on the Board of Center for Innovation, Incubation and Entrepreneurship of IIMA. He is an Advisor to and Senior Adjunct Fellow in GeoEconomic Studies at Gateway House, a Mumbai based foreign policy think tank. At Mahindra, Vaidy also co chairs the Group’s Thought Leadership Initiative on Redefining Sustainable Urbanization.
MBA, Indian Institute Of Management, Ahmedabad
Politics of international business, finance, economics and trade
Last modified: September 14, 2017
Regulations are the new focus of economic statecraft. Their increasing importance is reflected in the negotiations on global financial standards, plurilateral trading rules, and regional economic unions.
The foreign exchange market is considered the most liquid and transparent in the world. However, recent investigations into alleged manipulation of the foreign exchange rates is a reminder that transparent exchange-based systems alone are not enough to ensure fairness
There is an immediate need for observance of good governance in regulation and a restructuring of the regulatory architecture. Key to this is the recovery of ground lost by the regulator in ensuring market integrity
With increasing debt and recession in the West, it seems no longer fitting for the rest of the world to follow traditional Western financial models. India’s long experience of capital markets, with its conservative and ‘inclusive’ financial regulatory system, on the other hand, makes for a compelling case study.