| dc.description.abstract | Real corporate governance requires tough financial regulators which effectively work to
safeguard investors’ interests in securities and endeavour to create a proper environment
for the securities market to develop. The financial regulators – Securities and Exchange
Board of India, SEBI in India, and Securities and Exchange Commission, SEC in the US – have
been created by the legislature. They are independent expert bodies and are vested with
remarkable powers, but they have to work within the framework of law, which is
interpreted by the courts. This paper examines the role of courts vis-à-vis expert bodies in
general and financial regulators in particular, and highlights the importance of the two being
on the same page for effective corporate governance. | en_US |
