ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Opportunities and Challenges of Regulatory Convergence in India's Financial Sector

The Case of the SEBI–FMC Merger

Nilanjan Ghosh (nilanjanghosh@orfonline.org) is with the Observer Research Foundation, Kolkata, and the World Wide Fund for Nature, India; Kushankur Dey (kushankurd@iimahd.ernet) is with the Indian Institute of Management Ahmedabad.

Various opportunities accompany the merger of the Securities Exchange Board of India with the Forward Markets Commission, as announced in the 2015-16 union budget. At the same time, important regulatory and developmental challenges have to be overcome for instilling efficiency in the market, along with promoting investor protection. Whether the merger is the beginning of financial market regulatory convergence or merely a "one-off" incident can only be known with developments over time. Similar types of opportunities and challenges may arise in generally adopting regulatory convergence in India.

The authors acknowledge the very helpful comments from the reviewer. Views expressed are personal.

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