SEBI Rejigs Secondary Market Advisory Panel
The SEBI headquarters in Mumbai. (Photograph: BloombergQuint)

SEBI Rejigs Secondary Market Advisory Panel


Markets regulator Securities and Exchange Board of India reorganised the committee that advises it on matters related to the secondary market, including suggesting steps to improve market safety, efficiency and transparency.

The Secondary Market Advisory Committee is chaired by Indian Institute Of Management Ahmedabad professor and former whole-time member of SEBI, Jayanth R Varma, the latest update with the SEBI showed.

Besides Varma, the expert panel consists of 15 members, including top executives of the NSE and the BSE as well as government representatives. Earlier, the committee had 19 members.

Also read: SEBI Rationalises Margin Framework For Commodity Derivatives To Check Volatility

Members of the committee include BSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan, NSE chief Vikram Limaye, ICICI Securities MD and CEO Vijay Chandok, Kotak Securities MD Jaideep Hansraj, UTI MF former MD Leo Puri and Edelweiss Group Executive Director and Group COO Himanshu Kaji.

The committee is mandated to review the developments in the secondary market and recommend measures for changes and improvements in market structure in view of the impending changes, look into investor protection measures in the stock exchanges and suggest improvements.

Moreover, the expert panel also suggests SEBI on measures for reducing the transaction costs, changes if required in the risk management and regulatory framework in secondary market, among others.

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