Regulatory Alerts2025-05-26
SEBI Circular on Appointment Process for Specific MII KMPs, Cooling-off Periods, and PID Re-appointment
The Securities and Exchange Board of India mandates that the Governing Board of Market Infrastructure Institutions must approve the appointment, re-appointment, termination, or resignation of key management personnel in compliance, risk, technology, and security roles. The regulator requires these institutions to establish cooling-off periods for such personnel joining competing entities and to record and report the rationale if a Public Interest Director is not re-appointed after their first term. These governance enhancements aim to strengthen institutional independence and prioritize public interest over commercial considerations within the securities market infrastructure.
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