Mumbai, April 4: Market regulator Securities and Exchange Board of India (SEBI) on Monday said it has constituted a committee to strengthen governance of Market Infrastructure Institutions (MII).
“SEBI has today constituted an ad-hoc committee for reviewing and making recommendations for further strengthening if governance norms at market infrastructure institutions (MIIs),” the regulator said in a statement issued here.
The six-member committee will be headed by G Mahalingam, former Wholetime Member of SEBI. The other members of the committee include Stakeholders Empowerment Services Managing Director JN Gupta, Oliver Wyman Partner Aarti Nihalani, S&R Associates Partner Sandip Bhagat, BSE Brokers Forum Former Chairman Uttam Bagri and MD and CEOs of NSE, BSE, NSDL and CDSL.
The committee will be responsible for making recommendations on measures for strengthening the role played by the Governing Board and committees of MIIs and also for reviewing the requirements related to appointment and role and responsibility of Directors on the Board and key managerial persons (KMPs) The committee will develop effective metrics for monitoring various aspects of the functioning of MIIs and KMP, enhance accountability and transparency, review the policy on safekeeping and sharing of information held by MIIs. It will also revisit the Code of Conduct and Conduct of Ethics for Directors of the Governing Board and KMPs and any other measures that the committee may consider appropriate, the regulator said.
UNI
