Sebi suggests easing of ownership norms for exchanges, depositories

According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution (MII)

Topics
SEBI | stock market

Ashley Coutinho  |  Mumbai 

The markets regulator on Wednesday proposed easing of ownership and governance norms for stock exchanges and depositories. According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution (MII).

The domestic entity can hold 100 per cent in the MII, which should be brought down to 51 per cent or 26 per cent in 10 years. The foreign promoter can hold up to 49 per cent, which should be brought down to 26 per cent or 15 per cent in 10 years. Those from non-FATF jurisdictions may acquire or hold up to 10 per ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, January 06 2021. 22:39 IST
RECOMMENDED FOR YOU
.