Movement at SEBI towards principles-based regulation

A milestone for SEBI in its rule-making function

SEBI is a modern financial regulator in that it issues `subordinate legislation’ (i.e. regulations) which constitute law. These laws embed intricate domain knowledge where Parliament does not have the capacity for detail. This separation — where Parliament sets up SEBI and gives it the power to . . . → Read More: Movement at SEBI towards principles-based regulation

Rule of law: A pair of stories

One essential feature of the rule of law is transparency. When a government says something, it must say why it said so. ThisĀ  is important from three points of view:

A government that does not need to explain itself is one that has arbitrary power. When a policeman can tell you that you’re prohibited . . . → Read More: Rule of Law: A Pair of Stories