Markets regulator Sebi on Tuesday issued guidelines on the parameters for the performance evaluation of market infrastructure institutions (MIIs), comprising stock exchanges, clearing corporations and depositories by independent external agencies.
The guidelines are aimed at ensuring consistency and uniformity for evaluations to be done by independent external agencies.
For performance evaluation criteria, Sebi said the evaluation will be based on seven key criteria – technology resilience (40 per cent), investor education (17 per cent), regulatory compliance (15 per cent), governance practices (8 per cent) and 5 per cent each for adequacy of resources and fair access and treatment to all stakeholders and information disclosure.
MIIs are required to appoint independent external agencies to evaluate their performance every three years. The agencies need to have relevant expertise in the securities market and must receive a “No Objection Certificate” (NOC) from Sebi, the regulator sai
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