SEBI has issued a Consultation paper on “Process for appointment of specific KMPs of an MII; and cooling-off period for KMPs and Directors of an MII joining a competing MII to strengthen the governance framework of Stock Exchanges, Clearing Corporations and Depositories (collectively referred as Market Infrastructure Institutions (MIIs))by ensuring that MIIs are staffed by Key Management Personnel (KMPs) of appropriate stature and independence in the crucial areas of compliance, risk, technology and information security.
These KMPs(namely the CO, CRiO, CTO and CISO) are crucial for any MII to deliver on its core public interest mandate of giving primacy to technological resilience, market integrity, and compliance, over commercial considerations.
The comments/ suggestions maybe submitted latest by December12, 2024 through web based online mode.
