Sunday, April 19, 2009

PFRDA-NEW COMMITTEE

Pension Fund Regulatory and Development Authority
The issue of Investor Awareness and Protection has been one of the main
focus areas for regulators, Government and other stakeholders in the Indian
financial system. The global financial crisis has further highlighted the
importance of financial awareness and education for stability of the financial
systems. It was accordingly decided to set up a Committee to examine the issue
of regulating investment advice including the regulations thereof, by various
financial sector regulators in the larger context of investor awareness and
protection. A Committee chaired by Shri D. Swarup, Chairman, Pension Fund
Regulatory and Development Authority has been constituted by the
Department of Economic Affairs, Ministry of Finance vide Office Order No
5/26/CM/2006 dated 17th March 2009. The other Members of the Committee
are:
1. Shri M.S Sahoo, Member, Securities and Exchange Board of India,
2. Shri G. Prabhakara- Member, Insurance Regulatory and
Development Authority
3. Shri K. Subrahmanyam, Executive Director, Insurance Regulatory
and Development Authority
4. Dr. Sujatha Prasad- General Manager, Reserve Bank of India
5. Dr. K. P. Krishnan, Joint Secretary (CM), Department of
Economic Affairs, Ministry of Finance.
2. The first meeting of the Committee was held on 30th March 2009 at the
office of PFRDA, New Delhi. In the meeting it was, inter-alia, decided to
prepare an inventory of information/status report on the work already been
done in regard to financial education and investment advisers by Government
agencies, regulators, financial institution, micro-finance bodies, etc., to co-opt
experts in this area as members, including a representative from the Ministry of
Corporate Affairs and also to engage knowledge partners/resource persons.
Source:press release by PFRDA

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