Team Blitz India
NEW DELHI: Capital markets regulator Securities and Exchange Board of India (Sebi) said it has set up a committee to review the ownership and economic structure of clearing corporations. This committee would also suggest measures to ensure that clearing corporations function as resilient, independent, and neutral rish managers. The ad-hoc committee would be chaired by Usha Thorat, former Deputy Governor of the Reserve Bank of India (RBI).
The decision has been taken in the wake of the substantial growth of Indian securities markets in recent years and the importance of clearing corporations as central risk management institutions.
In a statement, Sebi said that the committee has been entrusted with the task of reviewing ownership structure as well as finances of clearing corporations.
With regards to ownership structure, the committee will examine the feasibility, and broadening the list of eligible investors, who are allowed to take shareholding in a clearing corporation and suggest categories of investors who can acquire stakes in such corporations.
