IFSCA has issued a Consultation paper on the review of IFSCA (Market Infrastructure Institutions) Regulations, 2021. Comments from the public are invited (with respect to the corporate governance arrangements of the MIIs) on the following:
- Should the regulations mandate at least two-third of the total members of the Governing Board to be the Public Interest Directors/Independent Directors?
- Whether Managing Director of an MII should be classified as a shareholder director ?
- Whether the approval of shareholders should be mandatory for appointment of a Public Interest Director ?
Comments may be sent by email to Shri Praveen S Kamat, General Manager at
praveen.kamat@ifsca.gov.in and Shri Shubham Goyal, AGM at goyal.shubham@ifsca.gov.in latest by September 19, 2024.
The objective of this consultation paper is to seek comments / views from public on the proposed amendments in the regulatory framework for Market Infrastructure Institutions (Stock Exchanges, Clearing Corporations and Depositories) in IFSC.
