As you are aware, the Securities and Exchange Board of India (SEBI) constituted a Committee to examine issues arising from the ownership and governance of Market Infrastructure Institutions (MIIs) under the Chairmanship of Dr. Bimal Jalan (Former Governor, Reserve Bank of India). The Committee has submitted its report and the same was released by the SEBI for Public Comments in November 2010.

The Committee on Financial Markets and Investors’ Protection of ICAI has submitted detailed recommendations and suggestions to the SEBI on the report. The details comments, as submitted to the SEBI, are given below with this announcement. You are requested to please provide your comments on the recommendations and suggestion made by the ICAI for consideration of the Committee. The comments can be submitted by email at cfmip@icai.org or by post to the ‘Secretary, CFM&IP, ICAI Bhawan, A-29, Sector 62, Noida – 201309’.

Chairman,

Committee on Financial Markets and

Investors’ Protection

ICAI Recommendations/ Suggestions on the SEBI Report on Review of Ownership and Governance of Market Infrastructure Institutions (MIIs) is attached below

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