Sebi Proposes Governance Overhaul for Market Infrastructure Institutions
Sebi proposes a governance overhaul for market infrastructure institutions, including stock exchanges. The plan mandates two executive directors to enhance oversight, prioritizing public interest and systemic stability over commercial goals. Comments on the proposal are invited until July 15.
- Country:
- India
Sebi has announced plans to overhaul the governance framework of market infrastructure institutions (MIIs), including stock exchanges, by requiring the appointment of two new executive directors to strengthen operational oversight.
In its consultation paper, Sebi emphasizes prioritizing public interest and systemic stability amid the rapid growth in the investor base, revenue, and market activity within MIIs.
The new executive directors, classified as key managerial personnel, will be responsible for critical operations and regulatory areas, ensuring effective leadership and preventing governance shortcomings.
(With inputs from agencies.)
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