Voluntary compliance of law important: Sebi member

Mumbai: The Securities and Exchange Board of India (Sebi) on Friday said enforcement is not the only solution to address every violation in capital markets but voluntary compliance of law by the participants is important.

"Enforcement is important, but enforcement cannot be the only solution... Ultimately, law is implemented through voluntary compliance. It is done largely to tell the participants that the regulator is watching you," Sebi whole time member Kamlesh Varshney said at an event organised by industry body Assocham.

"Enforcement cannot be against each violation, these violations need to be corrected through voluntary compliance".


He added that," if we see that on a television channel, guest experts are giving advice to manipulate the market, we will enter the picture of course, but before that, it is the responsibility of the TV channel to see whether the guest experts they are inviting are giving advice in a transparent manner or there is some manipulation going on."