SEBI lays down procedure for conflict resolution between listed and listing stock exchanges |
SEBI lays down procedure for resolution of conflicts between any listed recognized stock exchange and its listing stock exchange under the Stock Exchanges Clearing Corporation Regulations; Regulation 45 said Regulations provides for listing of a stock exchange on any recognized stock exchange, other than itself and its associates; As per the Circular, the Listing Department of listing stock exchange (i.e. a stock exchange on which the listing is done) shall be responsible for monitoring the compliance of the listed stock exchange (i.e. a stock exchange which is getting listed) as in the case of listed companies; The Independent Oversight Committee (IOC) of the listing stock exchange shall exercise oversight at the second level to deal with the conflicts, if any; The listed stock exchange may appeal to the Independent Oversight Committee of the listing stock exchange, if aggrieved, with the decision on disclosure of the listing stock exchange; An independent Conflict Resolution Committee (CRC) constituted by SEBI, with an objective for independent oversight and review, shall monitor potential conflicts between listed and listing stock exchange on a regular basis; The listed stock exchange aggrieved by the decision of IOC of the listing exchange may appeal to |
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Friday, 27 January 2017
SEBI lays down procedure for conflict resolution between listed and listing stock exchanges
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