Sebi clears own staff on MCX-SX licence

In wake of earlier CBI case, report by regulator's vigilance head says no procedural lapse

An internal probe commissioned by the markets regulator has cleared its staff of any wrongdoing in the grant of a licence to the MCX Stock Exchange (since renamed as Metropolitan Stock Exchange).

The chief vigilance officer (CVO) of the Securities and Exchange Board of India (Sebi) studied the process followed in the grant of licence. “The CVO has concluded there were no procedural lapses or wrongdoing. The report was taken on record at the February board meeting,” said a source.

The probe was initiated late last year by U K Sinha, the then regulator’s head. This was after the employees