Millennium Post

Sebi plans training module for police on financial crimes

Sebi is working on a financial market training module for police and plans to enhance its engagement with law enforcement and investigative agencies to help them better understand the contours of financial crimes.

The proposed measures are aimed at ensuring faster prosecution in cases involving capital market crimes and also better deal with the complaints from the investors duped by ponzi schemes and various market manipulative activities. At the same time, the Securities and Exchange Board of India (Sebi) is preparing an exhaustive technical and behavioral training programme for its own staff at all levels.

"Trainings on both behavioral as well as functional areas will be imparted. Trainings on market intelligence, macroeconomics, investigations, anti-money laundering, financial derivatives, risk management etc are being designed in consultation with NISM," as per the regulator's Plan of Action for the current financial year. Sebi, entrusted with the mandate to supervise and regulate the entire gamut of capital markets in the country, has set up NISM (National Institute of Securities Management) to impart training in various aspects of securities market.

During this fiscal, Sebi has also lined up leadership trainings for its Grade D and above staff members with focus on leadership, communication and team work. Besides, Sebi would continue to provide training in collaboration with other training providers for human resources, establishment, accounts, RTI, prevention of sexual harassment, contract management and disciplinary proceedings, among others.

"Further education and training programmes for specific target groups such as police officials have been proposed to be undertaken," the regulator said. 

Often, there have been complaints from the general public and other quarters that investors find it hard to explain to the police the finer details when they go to file complaints about certain financial market dealings, including fraudulent activities, a senior regulatory official said.

At the same time, there have been also cases when various enforcement and investigative agencies have found it difficult to 

understand the 'complex' financial market products, resulting in unnecessary delay in action against the culprits while sometimes even genuine market dealings have come under scanner due to lack of proper understanding of such trades.

The proposed measures -- training modules for police and greater engagement with enforcement and investigative agencies -- are aimed at filling this gap and also ensure greater cooperation for safeguarding the investors' interest, the official added. 
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