SEBI’s Intermediary Advisory Committee

May 30, 2023

To ensure transparency and efficiency in the operations of market intermediaries, Sebi has established the Intermediary Advisory Committee.

The Purpose of Sebi’s Intermediary Advisory Committee

Sebi’s Intermediary Advisory Committee serves as an essential forum for suggesting changes to the legal framework and promoting transparency in the systems and procedures of market intermediaries. By providing valuable insights and recommendations, the committee aims to improve market safety, efficiency, and transparency.

Leadership and Membership

The current chairman of the Intermediary Advisory Committee is S Ravindran Jain, a former executive director at Sebi. With 21 members, the committee brings together representatives from various industries crucial to the functioning of the capital markets. These industries include the brokerage industry, financial institutions, legal fields, and Sebi’s own members.

Notable Members

Among the esteemed members of the committee are Nithin Kamath, the founder and CEO of Zerodha Broking, a prominent name in the brokerage industry. Lalit Keshre, CEO of Groww, a popular investment platform, also lends expertise to the committee. Their inclusion reflects the importance of industry leaders in shaping policies that impact market intermediaries.

Additionally, the committee benefits from the insights of Ashish Chauhan, the managing director and CEO of the National Stock Exchange (NSE), and Sundararaman Ramamurthy, MD and CEO of BSE. Their contributions bring valuable perspectives from major stock exchanges in India.

Representing the Commodity Participants Association of India (CPAI), Narendra Wadhwa, President, and Vijay Mehta, President of the Association of National Exchanges Members of India (ANMI), bring specialized knowledge in their respective fields. Their presence ensures a comprehensive understanding of market dynamics and the needs of market participants.

Driving Regulatory Enhancements

Sebi’s Intermediary Advisory Committee plays a crucial role in advising the regulator on measures to simplify and enhance transparency in systems and procedures related to market intermediaries. It also emphasizes the adoption of technology and cybersecurity by intermediaries to ensure compliance and safeguard market integrity.

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