The Securities and Exchange Board of India (SEBI) has notified the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2023. These Regulations were published on 28th February, 2023 and shall come into force from 27th August, 2023.
The Amendment Regulations state that every recognised stock exchange and recognised clearing corporation shall abide by the Code of Conduct as specified under Part-A of Schedule-II of these regulations.
The Regulations also state that the governing board of the recognised stock exchange and the recognised clearing corporation shall comprise of directors having the requisite qualifications and experience in the areas of capital markets, finance and accountancy, legal and regulatory practice, technology, risk management and management or administration. The governing board of the recognised stock exchange and recognised clearing corporation shall comprise of at least one public interest director having the requisite qualification and experience in each of the areas of capital markets, finance and accountancy, legal and regulatory practice, and technology.
