Finance Minister Arun Jaitley, the regulator decided to allow foreign companies to list and trade shares and other instruments at the financial centre, which will be set up under the SEZ Act. This will enable Indian investors to participate in overseas companies, municipal bonds will enable urban bodies to raise funds and investors to make informed choices. SEBI has tightened the disclosure norms for companies, including specific time limits for updates to stock exchanges. SEBI chairman U K Sinha said listed companies would need to disclose their board decisions within 30 minutes, while all other `material information` would need to be made public within 24 hours, failing which they would face strict penal action. ">