Sebi has put the ball in the government’s court on implementing new rules proposed by a market regulator-appointed panel on how stock exchanges should be owned and run. Sources said that Sebi is awaiting the final word from the finance ministry on the issue before taking up the case at its board for implementation of the new rules.
‘Review of ownership and governance of Market Infrastructure Institutions (MIIs)’ has been listed as one of the priority areas by Sebi among the steps it aims to take during the current fiscal towards “administering, supervising and inspecting” of these entities.
The implementation of the recommendations made by the panel, headed by former RBI Governor Bimal Jalan and comprising industry experts such as eminent banker Uday Kotak, in this regard has been pending for many months now.
