The Securities and Exchange Board of India plans to revise rules on insider trading by executives after Parliament approves the Companies Bill, which would outlaw abusive stock market practices. "The minute the Companies Bill is approved, we will revise the insider trading regulations," a SEBI official said.
German Chancellor Angela Merkel sounded a cautionary note for the new year, warning that the euro zone remains in crisis, despite progress made, and that 2013 likely will be more challenging than last year. "For our prosperity and our cohesion, we need the right balance, we need the willingness to perform and social security for all," Merkel said. "The European sovereign-debt crisis shows how important this balance is."
Tougher accreditation standards, a ban on commission for some products and hourly fees for investment counseling are in order as UK rules for transparency among financial advisers take effect. "These changes are about making the cost of advice clearer, where else would you buy something without knowing in advance how much it costs?" Linda Woodall, head of investment intermediaries at the Financial Services Authority, wrote in an e-mail.
Government policies designed to revive India's economy appear to have produced results in manufacturing, with a purchasing managers' index rising to a six-month high in December. Separately, the ratings council Crisil predicted revenue growth of 11% to 13% for Indian companies in the latest quarter.