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BSE seeks Sebi nod for nominees on committees

Sangita Shah

The Bombay Stock Exchange (BSE) has sought permission from the Securities and Exchange Board of India (Sebi) to appoint public nominees on some of its non-standing committees, sources said.

This is being done to replace the vacancy created by the broker-directors of the exchange who stand restricted from discharging the functions of the chairs, following Sebi directive.

BSE has three standing committees and 19 non-standing committees. The non-standing panels include committees on ethics and standards, finance and investment, risk management and margins, debt market, derivatives building, membership, technology and new projects, HR and training, business development and marketing, operations, legal committee, etc.

These committees have members apart from the broker-directors who are either members of the exchange or public nominee directors.

According to sources, BSE can appoint public nominees on panels of these committees only after Sebi permission.

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