NEW DELHI: The Supreme Court-appointed expert panel led by Justice A M Sapre, which virtually gave the Securities and Exchange Board of India (Sebi) a clean chit on enforcement of regulatory measures during the Hindenburg report- caused meltdown of Adani Group shares, has found that companies provide over-abundant information about their shares, which impede investors from making an informed decision on buying stocks.

"There is an urgent need to introspect and take a hard close look at whether there is a surfeit of disclosures that loads the investors with so much data and noise that the real content necessary to make an informed decision may be lost," the panel has said in its 178-page report

It said since stock trading is almost entirely digital, it should be possible to make relevant and pertinent information easy to access at the point of transaction, including about the issuer of the securities that are being transacted, as well as information on regulatory caution attached to such. securities.

It also recommended that the government is required to "bring sharp focus" on the area of unclaimed properties such as securities, dividends and bank deposits of deceased investors. "The entire process requires imaginative re- engineering. This would be best served by creating a Central Unclaimed Property Authority to handle and reunite unclaimed private assets to the successors of deceased investors," it said.

"Such an agency has to be a full-time hands-on real-time proactive agency that actively seeks out to discharge a
mandate of reuniting assets of dead individuals with their successors," the panel said, while recommend that
financial literacy must be imparted to school students. "The committee believes that financial literary must be
introduced as a matter of pedagogy right from the school curriculum. Financial security of a society is as vital as
national security for a society to be robust. School and university curricula must be attuned to bring in a culture of
financial awareness and literacy. Earning, saving, investing, earning returns, and giving back to society are part of a virtuous cycle. The era of treating money with an unstated element of stigma must end," said the panel which included OP Bhat, former Bombay HC judge JP Devadhar, KV Kamat,