SEBI Board Meeting held on 20 December, 2022 has issued following proposals for Strengthening focus and governance mechanisms in Market Infrastructure Institutions (MIIs).
The functions of MII to be categorized into three verticals:
- Critical Operations
- Regulatory, compliance and risk management, including the role of MIIs as first level regulators of intermediaries and listed entities, as well as investor grievance redressal;
- Other functions, including business development.
MII shall give higher priority to the resource allocation towards the functions under the first two verticals over resource allocation towards the third vertical.
