The Securities and Exchange Board of India (SEBI) on February 12, 2025, issued the Industry Standards Recognition Manual.
The Industry Standards Fora (ISFs) were initially established to develop implementation standards for listed companies and stock brokers. Over time, similar forums were set up for other market participants like portfolio managers, custodians, depository participants, and alternative investment funds, based on feedback from various stakeholders.
Market participants have found these standards, developed in consultation with SEBI, helpful in promoting good governance, regulatory compliance, and ease of compliance. However, as these Industry Standards Fora operate as pilot programs, there are currently no fixed norms regarding their formation and functioning. Each forum has the flexibility to determine the most efficient mechanisms for its operation, leading to variations in the processes for constitution, the regulations to be addressed, consultation with SEBI, and how industry views are collected.
Accordingly, based on the feedback and discussions with various ISFs, the Industry Standards Recognition Manual has been finalised.
[Press Release No. 08/2025]
