Faculty Seminar | SEBI’s Sandbox

Prof. Rahul Singh will present his paper “SEBI’s Sandbox” at the Faculty Seminar on Wednesday, September 20, 2023.

Abstract:

The paper captioned as ‘Sebi’s Sandbox’ posits that in the backdrop of a legacy of under-enforcement of directors’ duties (and auditors’ liability) in India, Sebi has embarked on their enforcement through its statutory instruments. This enforcement is innovative and has the characteristics of a ‘regulatory sandbox’.

The paper has descriptive and prescriptive aims. Descriptively, the paper seeks what Jolls, Sunstein and Thaler have, in a different context, said ‘a higher R square — that is, greater power to explain the observed data’. Prescriptively, the paper outlines certain internal and external challenges that the observed behavior is likely to face in the future.

Please note, this paper is a working draft and therefore, cannot be shared externally.