Sebi sets up panel to study RSEs post-demutualisation

Mumbai, Jan 31 | Updated: Feb 1 2006, 05:30am hrs
The Securities and Excahnge Board of India (Sebi) has formed a committee under the chairmanship of G Anantharaman, whole time member (WTM) Sebi, to study the future of the Regional Stock Exchanges (RSEs) post-demutualisation.

The committee was formed following the decision taken by the Sebi chairman M Damodaran.

The other members of the committee are: Moushmi Ghosh, Professor, Finance & Control, IIM- Calcutta, J Jayaraman, chartered accountant, Ahmedabad, MR Mayya, former executive director- Bombay Stock Exchange and former chairman, The Inter Connected Stock Exchange Ltd, Sandeep Parekh, advocate, Supreme Court, Ramu Sharma, director - Bangalore Stock Exchange Ltd and chairman, Federation of Indian Stock Exchanges (FISE) and Pratip Kar, executive director, Sebi will be the member secretary.

The terms of reference of the committee is to review and examine the future role of the RSEs and their subsidiaries - post-demutualisation, keeping in view the legal requirements of the Securities Contracts (Regulation) Act 1956.

The committee is expected to submit the report within two months from the date of the first meeting, a Sebi release said.