The Securities and Exchange Board of India (Sebi) has come out with regulations for exchanges which plan to list on rival bourses to address any conflict of interest and also to ensure effective compliance with the applicable laws.
The Independent Oversight Committee of the listing stock exchange shall exercise oversight at the second level to deal with the conflicts, if any. The listed stock exchange may appeal to the Independent Oversight Committee of the listing stock exchange, if aggrieved, with the decision on disclosure of the listing stock exchange, the Sebi stated in the regulations.
An independent Conflict Resolution Committee (CRC) constituted by the Sebi, with an objective for independent oversight and review, shall monitor potential conflicts between listed and listing stock exchange.
Published 27 January 2017, 18:52 IST