0		Who, regulates, whom, financial, world?

The importance of regulations and regulators would have been very clear by now. Especially after the Satyam saga. Regulators are the good people who know who should run in which way. If there is a deviation it is the regulators job to tell so and advise corrective action.

The external auditors for Satyam are PWC. It is the job of the auditors of PWC to actually check all the bank deposits and other instruments mentioned on the balance sheet. Since they haven’t done their job very well India has got its biggest corporate fraud. In the case of auditors, Institute of Chartered accounts in India (ICAI) is the governing body of all the chartered accountants in India. It becomes the job of ICAI in this case to put the auditors of PWC in the right place.

Another biggest regulatory body in the financial markets is Securities and exchange Board in India (SEBI). It has to step into action every now and then. Be it the ipo allocation fraud or the pledging of shares or the price-sensitive rumours. SEBI is the watchdog. If it lapses then the hell will break loose, literally.

There is a governing agency for all the practitioners in the financial world. Here I am listing down the entity and its governing agency.

As you can see, SEBI is the regulator body for all the happenings in the stock market world. RBI is the regulatory body for all the banks, co-operative banks and the non-banking financial institutions.  (Source : IEPF)

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