Sebi Fiat To Restructure Subsidiaries Of Bourses

The Securities and Exchange board of India (Sebi) has directed that the management structure of the subsidiaries floated by stock exchanges need to be restructured in order enable them to be able to provide a safe and transparent market and effectively discharge their responsibilities towards investor protection.

According to Sebi, which undertook an inspection of the subsidiaries, it has decided that the subsidiary company shall be required to comply with some minimum requirements. A CEO has to be appointed who shall not hold any position concurrently in the parent exchange. The CEO