Headway in move for industry standards
NEW DELHI : Markets regulator Securities and Exchange Board of India’s (Sebi’s) plans to form industry standards forum is making progress as the industry has conveyed to Sebi four priority areas. Last month, Sebi announced that it will rope in industry support to formulate standards for implementation of specific rules.
In a press release issued on Monday, Sebi said industry associations have conveyed that they would like to work on priority areas including rumour verification requirements, disclosures requirements under listing obligations and disclosure requirements (LODR) norms, structured database maintenance as specified in insider trading rules. According to the press release, industry bodies are also willing to contribute on Environment, Social and Governance (ESG) assurance requirements.
The associations have said it will take three to four months to design the standards for implementation of requirements in the above areas, Sebi said on Monday. “The three industry associations, Assocham, CII and Ficci, have nominated representatives for the pilots and are in process of selecting a chairperson."
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