New Delhi, June 11 -- The Parliamentary Standing Committee on Finance said Thursday that SEBI needs more powers to preempt crises as India's securities market evolves rapidly, with BJP MP and Chairman Bhartruhari Mahtab stressing that a rule-based system is key to making the regulator more accountable under the proposed Securities Market Code, 2025.

Speaking to ANI after the day-long deliberations, Mahtab said, "One thing which we have to keep in mind is that this is a very swift and fast-developing economy. In that respect, to preempt a crisis, we have to give SEBI more power. So, the board is there. And what type of tribunals can go into all those issues - that is also another aspect which we are looking into."

On calls to make SEBI m...