Kamal Ghorui
Stating that technology is reshaping markets faster than any rulebook can, the Sebi chairman detailed the measures the regulator is rolling out such as stronger cybersecurity frameworks and improved data governance. “Algorithmic trading, AI-driven decision-making are now part of everyday market functioning. We have set up a high-level working group to develop a short-term and long-term strategic, regulatory roadmap for the securities market ecosystem. AI offers powerful tools for surveillance and fraud detection. But it also brings risks, opacity and bias and concentration of technological power.”“Regulation must therefore evolve from supervising institutions to supervising systems and technology. We must address concentration and interconnectedness risks, strengthen data governance and consent architecture and manage the boundary between regulated finance and unregulated digital spaces.” He said household savings are increasingly finding their way into capital markets as public participation in capital markets is expanding at an unprecedented pace, while highlighting the recent developments undertaken by the Sebi for market regulation. “This shows the Indian household is no longer a peripheral participant. It is central to India’s equity story. This means more responsibility for the regulator.“
