Besides the exchanges, new ownership and governance rules have also been proposed by the committee, chaired by former RBI Governor Bimal Jalan, for other market infrastructure institutions like depositories and clearing corporations.
After Sebi sought the government’s stand on the proposals made by the Jalan panel in this regard, a committee has been set up with representation from the Ministry of Corporate Affairs, stock exchanges and industry bodies among others to study the proposed rules and suggest necessary changes.
The new panel would look to give its final recommendations by the next month.
Chaired by Renuka Kumar, Joint Secretary in the Ministry of Corporate Affairs, the panel will have representatives from stock exchanges NSE and BSE, industry chambers, depositories NSDL and CDSL, as also accounting bodies like ICAI. The implementation of recommendations made by the Jalan panel has been pending for months now.
Published 22 May 2011, 15:02 IST