Saturday, August 31, 2002

Omissions & Commissions

The Sebi move to bar agents from using incentives to bait gullible investors is good--but not quite good enough.
Gautam Chikermane
POLICYMAKERS HAVE a problem. They can’t look beyond their noses–or, rather, the spreadsheets in which their noses are buried. Which is why even well-intentioned policy exercises, ostensibly aimed at protecting investors’ interests, do not come close to delivering the intended results. Take, for instance, the recent Sebi (Securities and Exchange Board of India) decision to make rebating illegal. Well-intentioned? Yes. Thought-through, well-executed? Definitely not.
Story in Outlook Money

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