Drawing the line between profit and accountability

By Siddharth Hariani, Aditya Bhargava and Davis Kanjamala, Phoenix Legal
0
1279

Asilver lining of the recent global financial crisis has been the subsequent introspection on market structures and institutions, and how their interplay could impact systemic stability.

Siddharth Hariani Partner Davis Kanjamala, Phoenix Legal
Siddharth Hariani
Partner
Davis Kanjamala,
Phoenix Legal

In 2010, India’s securities regulator, the Securities and Exchange Board of India (SEBI), received the report of the Bimal Jalan Committee (chaired by a former governor of the Reserve Bank of India), which reviewed ownership and governance of market infrastructure institutions such as stock exchanges and clearing corporations (MIIs) in India.

More recently, pursuant to proceedings in the Supreme Court of India concerning the MCX Stock Exchange, SEBI notified the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, on 20 June (SECC Regulations), to regulate the recognition, ownership and governance of stock exchanges and clearing corporations in India. The SECC Regulations replace the Securities Contracts (Regulation) (Manner of Increasing and Maintaining Public Shareholding in Recognized Stock Exchanges) Regulations, 2006 (MIMPS Regulations).

You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.

你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章,欢迎成为我们的订阅会员成为我们的订阅会员

Siddharth Hariani is a partner, Aditya Bhargava is a senior associate and Davis Kanjamala is an associate at the Mumbai office of Phoenix Legal.

PL

New Delhi

Second Floor,

254, Okhla Industrial Estate, Phase III, New Delhi-110020

India

Tel +91 11 4983 0000

Fax: +91 11 4983 0099

Email: delhi@phoenixlegal.in

Mumbai

First Floor, CS-242,

Mathuradas Mill Compound,

NM Joshi Marg, Lower Parel Mumbai – 400 013, India

Tel: +91 22 4340 8500

Fax: +91 22 4340 8501

Email: mumbai@phoenixlegal.in