Sebi on Friday came out with guidelines to strengthen accountability and improve governance of stock exchanges and other market infrastructure institutions (MIIs) by asking them to resolve whistleblower complaints within 60 days of receipt.
Additionally, Sebi asked MIIs, comprising stock exchanges, clearing corporations and depositories, to adopt RegTech (regulatory technologies) and SupTech (supervision technologies) for better regulatory and supervisory mechanisms.
Also, the regulator outlined guidelines for back office vendors, public interest directors (PIDs) meetings, establishing a standard operating procedure for disciplinary actions against Key Management Personnel (KMPs), disclosure of board meeting agendas and minutes, quarterly reporting by the Compliance Officer and half-yearly reporting by the Chief Risk Officer.
The new guidelines will become effective from April 1, the Securities and Exchange Board of India (Sebi) said in its circular.
On whistleblower policy, Sebi .
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