Sebi's expert committee supports regulating global proxy companies

An expert group set up by the Securities and Exchange Board of India (Sebi) to formalise a framework for regulating proxy and corporate governance firms has set its eyes on global proxy firms. 

Global proxy firms came to limelight following their controversial recommendations on the removal of HDFC Chairman Deepak Parekh.

According to sources, the panel is in favour of Sebi regulating global proxy firms advising on domestic companies

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The panel, headed by founder of Finsec Law Advisors Sandeep Parekh, had its first meeting last week, when key issues were discussed.

The committee also discussed measures for protecting proxy advisor firms from corporate litigation.

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