The Securities and Exchange Board of India (SEBI) on January 30, 2025, issued the notification regarding the Parameters for external evaluation of Performance of Statutory Committees of Market Infrastructure Institutions (MIIs); and Mechanism for internal evaluation of Performance of MIIs and its Statutory Committees.
The following has been stated namely: -
• The following statutory committees has been constituted by every recognised Stock Exchange, recognised Clearing Corporation and Depository (collectively referred as Market Infrastructure Institutions (MIIs)):
1.1. Functional Committees
1.1.1. Member Committee
1.1.2. Nomination and Remuneration Committee
1.2. Oversight Committees
1.2.1. Standing Committee on Technology
1.2.2. Regulatory Oversight Committee
1.2.3. Risk Management Committee
1.3. Investment Committee
• The minimum criteria for the independent external evaluation of performance of Statutory Committees of MIIs and their weightages are as under: -
o Roles, Responsibilities and Duties of Statutory Committees – 40%
o Effectiveness of meetings of Statutory Committees – 30%
o Governance aspect of Statutory Committees – 30%
• The broad framework in this regard, developed in consultation with ISF of MIIs is provided at Annexure A.
• The rating framework is provided at Annexure-B.
The following shall come into force on 30th day of January 30, 2025.
[Notification No. SEBI/HO/MRD/POD-III/CIR/P/2025/12]
