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SEBI Board Meet Highlights: ASBA-Like Facility For Secondary Markets, ESG And More

The Securities and Exchange Board of India approved a number of changes with far-reaching effects on the securities market of the country, during its board meeting on Wednesday. From an ASBA-like facility for secondary market to significant changes to mutual fund regulations, the decisions are both pro-industry and pro-investor.

SEBI has approved a set of amendments to the Mutual Fund Regulations that places increased responsibilities on the trustees. The board has also approved a set of changes that will allow private equity funds and other such entities to be sponsors of mutual funds.

In an effort to improve transparency and streamline certain processes in the securities market, SEBI had proposed several changes to the listing obligations earlier this year. In order to reduce information asymmetry and the mismatch between issued shares and listed shares, SEBI had proposed some changes to the Issue of Capital and Disclosure Requirements.

To increase investor participation in securities market and to promote technology-aided dispute resolution, the board has approved several changes that expands the existing Market Infrastructure Institution administered arbitration and conciliation mechanism to hybrid mode.

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