Dear Sir, I agree what is stated in the open letter. The most important objective of SEBI is to ensure that small investors are protected and also to create a climate wherein the investors are encouraged to participate in the market. When PAN no. is compulsorily required to be given, where is the need to get one more number from SEBI and also give the finger prints? Are these investors criminals? With the PAN no. can the investor be not identified? SEBI's regulatory & supervisory responsibility enjoins that people who indulge in malpractices are identied and punished expeditiosly. On this front also the record of SEBI is dismal. Apart from the delay in disposing of the cases, none of the decisions on these cases have been upheld on appeal. Should not SEBI take some time to introspect before introducing new rules which hamper the development of investment market?
