Operational oversight to get a boost Sebi strengthens MII governance framework

Appointment of two executive directors mandated

- PRESS TRUST OF INDIA

THE SECURITIES & Exchange Board of India (Sebi) on Friday strengthened the governance framework at market infrastructure institutions (MIIs), including the stock exchanges, by mandating the appointment of two executive directors (EDs) to bolster operational oversight.

Under the new structure, the ED of Vertical 1 will head "critical operations", while the ED of Vertical 2 will oversee regulatory functions, compliance, risk management and investor grievances. Both the EDs will also be inducted into the MII's governing board.