Lessons from the NSEL fiasco

The December 2, 2013, edition of this newspaper carried an item under its Chinese Whispers column ("The NSEL effect") that said aspirants for positions in the MCX Stock Exchange were asked what steps they would have taken to avoid the National Spot Exchange Ltd (NSEL) scam. This is a relevant question going forward, since one of the reasons retail investor interest in capital markets has waned is the sense that much of what goes on is non-transparent or enveloped with malfeasance.

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