SEBI mandates 3 EDs on MII boards for better oversight
SEBI just rolled out a fresh governance framework for Market Infrastructure Institutions (MIIs)—think stock exchanges and clearing corporations—on September 12.
The big change? Boards will now include two Executive Directors (EDs) alongside the Managing Director (MD), giving these organizations stronger oversight as first-line regulators.
MD stays in charge, but EDs get specialized roles
MIIs can add a third ED for business roles if SEBI signs off.
The MD stays in charge overall, but each ED will focus on specific areas, making things more specialized.
Tech leaders like the Chief Technology Officer now report directly to the EDs, putting extra emphasis on cybersecurity and tech resilience.
Plus, SEBI is limiting outside directorships for MDs and EDs to avoid conflicts of interest—hoping all this leads to better transparency, smoother operations, and more global investors looking at India's markets.