SEBI constitutes Committee for review of structure of market infrastructure institutions

 

The role of market infrastructure institutions has been continuously evolving to meet the challenges of the emerging securities market. These institutions are increasingly called upon to undertake regulation and supervision of the markets, while simultaneously pursuing commercial objectives.

 

SEBI Board had considered the issues with regard to the emerging market microstructure and the evolving role of market infrastructure institutions, which call for a review of their ownership and governance structure to ensure that they remain relevant and effective.

 

SEBI Board in its meeting held on December 22, 2009 approved the proposal to constitute a Committee to look into the issues and concerns in the above matter. Accordingly, a Committee has now been constituted under the Chairmanship of Dr. Bimal Jalan (Former Governor, Reserve Bank of India).

 

The other members of the Committee are:

 

Dr. K.P. Krishnan, Joint Secretary, Ministry of Finance, Government of India

Mr. Kishor Chaukar, Managing Director, Tata Industries

Mr. Uday Kotak, Managing Director, Kotak Mahindra Bank

Prof. G. Sethu, Officer on Special Duty, National Institute of Securities Markets (NISM)

Dr. K. M. Abraham, Whole Time Member, SEBI

Shri J.N. Gupta, Executive Director, SEBI (Member Secretary).

 

 

Mumbai

February 08, 2010