SEBI Guided by Stock Exchanges?

On 31 March 2008, the Securities and Exchange Board of India (SEBI) put out a four-page discussion paper apparently based on suggestions by stock exchanges. The intent of these recommendations may be to clean up the sales tactics of brokerage firms but almost each one of the suggestions - good as well as bad - is marred by impracticality. Every investor depends on tips from brokers, even...

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