Financial Daily from THE HINDU group of publications
Wednesday, Dec 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 10, 2003 |
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Corporate
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Corporate Governance ICSI to bring out secretarial standards Our Bureau
Kolkata , Dec. 9 THE Institute of Company Secretaries of India (ICSI) has proposed to bring out a number of secretarial standards in the coming days as part of a plan to introduce a set of uniform practices to its members. Some of these standards would relate to issues like transfer and transformation of shares, which are often subjects of intense debate among professional company secretaries, Mr P.K. Vijay, head of ICSI said. He was addressing a seminar on investor education organised by the institute in association with SEBI on Tuesday. The institute, as part of its plan to promote the concept of investor awareness, has also come out with a software on investor grievances, which will now be made part of its website. According to Mr G.N. Bajpai, Chairman of SEBI, the small investor is at the heart of the stock market. "He should be aware of all important aspects of the stock exchange, especially ways of entering and exiting," he said, adding that such an investor often does not have the time and expertise necessary for surviving in the market. As it has been witnessed in the past, many ordinary investors have been entering at peak levels and have been forced to exit when the market was at a low. A regulator like SEBI is expected to bring down the risks involved to the extent possible; such risks could be structural and systemic in nature. The regulator, which is also responsible for the `development' of the capital market, would like investors to determine the right trade-off between risk and return. The best way of doing so is to collect complete information on companies whose stocks appear good for investing. This would facilitate "informed decisions," Mr Bajpai indicated.
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