By: ABP News Bureau | Updated at : 04 Oct 2023 07:44 PM (IST)
The working committee announcement was a part of the budget announcements made in this year's Union Budget. ( Image Source : Getty )
The Securities and Exchange Board of India (SEBI) has constituted Working Groups to recommend simplification in its regulations and improve compliance processes and reduce costs associated with compliance. The market regulator is seeking comprehensive reviews of existing regulations to "simplify, ease and reduce cost of compliance," SEBI said in a release on Thursday.
The working committee announcement was a part of the budget announcements made in this year's Union Budget.
"Pursuant to the Budget Announcement, SEBI has constituted Working Groups to recommend simplification of various SEBI Regulations. The Working Groups will also look into the compliance requirements to enhance ease of compliance and reduction in cost of compliance," the release said.
“To simplify, ease and reduce cost of compliance, financial sector regulators will be requested to carry out a comprehensive review of existing regulations. For this, they will consider suggestions from public and regulated entities.........,” SEBI noted one of the budget announcements was made in February.
SEBI said at present, 16 Working Groups, under the aegis of its standing Advisory Committees, are reviewing compliance requirements under various SEBI Regulations applicable for various regulated entities, such as equity and debt listed companies, Mutual Funds, Stock Brokers, Alternative Investment Funds, REITs/InvITs, Portfolio Managers, Custodians, Investment Advisers, Research Analysts, etc. The market regulator has sought suggestions from stakeholders and regulated entities regarding the same.
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