Plan panel backs Jalan report on SEs

Arguing against allowing bourses to go public, a top official in Planing Commission said, “the key point is that stock exchanges are not a profit making body, they also perform a regulatory role.”

The official also said that if bourses were allowed to be listed, there would be a need for super regulator. He doubted whether Sebi could play that role. In a report on market intermediaries, the Sebi-appointed Jalan committee had suggested that stock exchanges should not be allowed get listed on stock markets.

Securities & Exchange Board of India (Sebi) is yet to take a view on the report.