The Securities and Exchange Board of India has issued circular on Disclosure of Complaints against Stock Exchange and Clearing Corporation on October 04, 2021. The provisions of this circular shall come into effect from January 01, 2022, and the disclosure requirements are in addition to those already mandated by SEBI.
Key highlights of the circular are:
- The Stock Exchanges and the Clearing Corporations are advised to disclose on their websites, the data on complaints received against them and redressal thereof, latest by 7th of succeeding month.
- The provisions of the circular in context shall come into effect from January 01, 2022.
- The Stock Exchanges and Clearing Corporations are advised to make necessary amendments to the bye-laws, rules, and regulations, and communicate to SEBI, the status of the implementation of the provisions of this circular through the Monthly Development Report (MDR).
- This circular is issued in exercise of the powers conferred under Section 11(1) of the SEBI Act, 1992 read with Section 10 of the Securities Contracts (Regulations) Act, 1956 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
*Tanvi Singh, Editorial Assistant has reported this brief.