Market Watchdog Sees India Rivaling U.K. for Investor Protection

ndia could rival the U.K. for strength of minority shareholder protection by setting up an independent watchdog to oversee standards at company auditors, according to the South Asian nation’s market regulator. Such a shift would bolster standards of corporate governance in the $2 trillion economy, U. K. Sinha, the chairman of the Securities & Exchange Board of India, said in an interview in Mumbai.
“The audit profession is regulated by a self-regulated organization,” Sinha said. “If by any chance the government or parliament is willing to create an independent regulator, that will bring us up two to three notches in corporate governance in the World Bank’s rankings.”