Markets regulator Sebi on Thursday came out with a framework for the governing council of social stock exchange, which will have an oversight on the functioning of the bourse.
The governing council is expected to provide guidance to facilitate the smooth functioning of the operations of the Social Stock Exchange (SSE) with regard to registration, fundraising and disclosures by social enterprises, the regulator said in a circular.
The stock exchange will have to constitute a governing council for the social stock exchange prior to seeking final approval from Sebi for the introduction of such a bourse as a separate segment.
With regard to the composition of the council, Sebi said it would comprise individuals with relevant expertise who can contribute to the development of SSE.
It will have a balanced representation, drawing from various categories of stakeholders such as philanthropic, non-profit organizations, information repositories, social impact investors, social audit professi
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