Besides, the ministry also suggested inclusion of new chapters such as “new regulations, aims and objectives; Progress or impact assessment of the new regulations/rules introduced during last year, international engagements and so on.
Unlike earlier, the new format will also have a review of financial markets which includes the analysis of the economic and investment environment in India along with comparison with developed and peer countries and potential risk factors; stress factors indicated through market signals etc .
The new rule has been put out soon after the ministry asked market regulator to withdraw its directive to mutual fund houses to treat additional Tier I (AT-1) bonds as having maturity of 100 years as it could disrupt the market and impact capital raising by banks.
“This is a very comprehensive disclosure that has been prescribed, keeping in mind the crucial role Sebi
is playing,” said JN Gupta, Stakeholders Empowerment Services, a proxy firm. With the integration of Indian market with the global markets, such disclosure will go a long way in increasing the reputation of the Indian regulator and even securities market. This also shows the relative importance that Sebi
has among other regulatory organisations. The previous format was a bit complicated and information was not given in a structured manner.
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