This article analyses the comprehensive reforms proposed by SEBI to enhance the governance framework for Market Infrastructure Institutions (MIIs).
The key measures include:
‣ Transparent Appointment/Re-appointment and Termination Process for Key Managerial Personnel (KMPs)
‣ Introduction of a Cooling-off Period for Directors and KMPs Transitioning to Competing MIIs
‣ Steps to Strengthen Accountability and Transparency
These reforms ensure that MIIs, such as Stock Exchanges, Clearing Corporations, and Depositories, uphold integrity, public interest, and operational efficiency.
