The seminar on ‘Indian Financial Code’ is organised jointly by CUTS Centre for Competition, Investment & Economic Regulation (CUTS-CCIER) and National Institute for Public Finance and Policy (NIPFP) in Jaipur, Rajasthan on 15th November, 2014. It is being orgainsed as a part of the project on “Facilitating the Adoption of Regulatory Impact Assessment Framework in India”, with financial sector as a case study, with support of British High Commission (BHC).
According to the Financial Sector and Legislative Reforms Committee (FSLRC), the current regulatory structure is fragmented and has regulatory gaps, overlaps, inconsistencies and arbitrage. To address this concern, the FSLRC had submitted its report to the Ministry of Finance on 22nd March, 2013, containing an analysis of the current regulatory structure and a draft Indian Financial Code (IFC) to replace the bulk of the existing financial laws. It has recommended a seven-agency structure for the financial sector. The legislative recommendations also relate to re-writing the laws using a principle based approach, restructuring existing regulatory agencies and creating new agencies.
The objective of this seminar would be to discuss key recommendations in the form of IFC and the challenges faced in adopting the IFC provisions. Apart from presentations by CUTS and NIPFP on key recommendations suggested through IFC, a roundtable discussion would be held to discuss the vis-à-vis real world case studies. Also, the panelists would put forth suggestions to stakeholders such as market participants, regulators and media for proper execution of this Code.
- Agenda
- “Transparency and optimal selection criteria is key to efficient financial sector regulation”, Prof. Vijay Vyas, at CUTS State level consultation seminar on Indian Financial Code Jaipur, November 15, 2014
- Building a capable financial system: The Indian Financial Code
- State Level Consultation Seminar Impact Assessment in India
- Participants