Sebi rejigs secondary market advisory panel

New Delhi, Jan 27 () Markets regulator Sebi has reorganised the committee that advises it on matters related to secondary market, including suggesting steps to improve market safety, efficiency and transparency.

The Secondary Market Advisory Committee is chaired by IIM Ahmedabad Professor and former whole-time member of Sebi, Jayanth R Varma, the latest update with the Securities and Exchange Board of India (Sebi) showed.

Besides Varma, the expert panel consists of 15 members, including top executives of the NSE and the BSE as well as government representatives. Earlier, the committee had 19 members.

Members of the committee include BSE MD and CEO Ashish Kumar Chauhan, NSE chief Vikram Limaye, ICICI Securities MD and CEO Vijay Chandok, Kotak Securities MD Jaideep Hansraj, UTI MF former MD Leo Puri and Edelweiss Group Executive Director and Group COO Himanshu Kaji.

The committee is mandated to review the developments in secondary market and recommend measures for changes and improvements in market structure in view of the impending changes, look into investor protection measures in the stock exchanges and suggest improvements.

Moreover, the expert panel also suggests Sebi on measures for reducing the transaction costs, changes if required in the risk management and regulatory framework in secondary market, among others. SP HRS