The Securities Exchange Board of India (SEBI) on September 24, 2024, notified regarding the parameters for Performance Evaluation of Market Infrastructure Institutions.
The following has been stated namely: -
• The board approved a framework for independent external evaluation of Market Infrastructure Institutions (MIIs) performance, establishing basic minimum criteria and weightages based on discussions at the Industry Standards Forum on June 27, 2024.
• It states that MIIs shall appoint an Independent External Agency with SEBI's prior No Objection Certificate, ensuring the agency possesses relevant expertise and has no conflict of interest or prior employment with the MII during the evaluation period.
• It states that independent external evaluations of each MII will occur every three years, starting with the FY 2024-2025 report due by September 30, 2025, followed by evaluations every three fiscal years with reports submitted within six months after each evaluation period.
• The provisions of this Circular shall come into force from October 24, 2024.
[Circular no. - SEBI/HO/MRD/POD-III/CIR/P/2024/127]
