|
|
Mumbai,(IANS) The Securities and Exchange Board of India (SEBI) on Friday proposed higher regulatory requirement in terms of ownership, governance and certain additional standards of essential.
accountability "Credit Rating Agencies, Registrar to an Issue and Share Transfer Agents and Debenture Trustees".
According to SEBI, the changes have been proposed by its committee under the Chairmanship of R. Gandhi, Former Deputy Governor, Reserve Bank of India, to review the existing framework of MIIs (Market Infrastructure Institutions).
Currently, stock exchanges, depositories and clearing corporations are collectively referred to as securities MIIs.
"The committee, based on the presentations made by the market intermediaries, felt that these intermediaries do not meet majority of the criteria of MIIs," the committee's report said.
"However, certain characteristics such as size, concentration, high dependence of investors on their services, market share, etc. make them significantly important."
Accordingly, the regulator has called for public comments till May 19 on the recommendations made by the committee.
Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. canaranews.com will not be responsible for any defamatory message posted under this article.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on CANARANEWS to provide the IP address and other details of senders of such comments, to the authority concerned upon request.
Hence, sending offensive comments using canaranews will be purely at your own risk, and in no way will canaranews.com be held responsible.
