New Delhi, February 12, 2018
Markets regulator Sebi has reorganised the committee that advises it on matters related to secondary market, including suggesting steps to improve market safety, efficiency and transparency.
The Secondary Market Advisory Committee is chaired by IIM Ahmedabad Professor and former whole-time member of Sebi, Jayanth R Varma.
Besides Varma, the expert panel consists of 16 members, including top executives of nation's leading stock exchanges, government representatives and officials of Sebi, as per the latest update with the markets watchdog.
Members of the committee include BSE's Ashish Kumar Chauhan and NSE's Vikram Limaye -- managing directors and CEOs of their respective stock exchanges.
Other members of the panel are: ICICI Securities MD and CEO Shilpa Kumar; UTI Mutual Fund MD Leo Puri; EdelweissBSE 3.11 % Group Executive Director and Group COO Himanshu Kaji; Kotak Securities MD Kamlesh Rao and Associate Professor of Finance at ISB Krishnamurthy Subramanian.
The committee is mandated to review the developments in secondary market, recommend measures for changes and improvements in market structure in view of the impending changes, look into investor protection measures in the stock exchanges and suggest improvements.
Moreover, the expert panel also suggests Sebi on measures for reducing the transaction costs, changes if required in the risk management and regulatory framework in secondary market, among others.
[The Economic Times]