Sebi Takes a Fresh Regulatory Stance Under Pandey

Pivots towards transparency and ease of doing business

- KHUSHBOO TIWARI

With Tuhin Kanta Pandey (pictured) at the helm, the Securities and Exchange Board of India (Sebi) is shifting its stance in favor of a more deregulated approach alongside strengthened governance, as evident from the key decisions at its latest board meet.

The new Sebi chief has underscored account for the "costs" of regulatory changes, signaling a departure from the regulator's earlier fast-paced approach.

"If an alternative approach can ease business without compromising on risk, we will explore it. Regulatory changes must be nuanced and clear," the career bureaucrat-turned-regulator said on Monday while emphasizing a mindful approach to avoid unnecessary burdens on the market ecosystem.

Sebi's relaxed stance was showcased on Monday. The securities watchdog shelved a proposal to oversee the appointment of key managerial personnel (KMPs) in market infrastructure institutions (MIIs) like stock exchanges and clearing corporations. It also deferred the implementation of stricter changes to regulations governing investment bankers and custodians, citing risk of unintended complexities and unnecessary costs.