Governance of Stock Exchanges and Clearing Corporations :

The provisions with respect to management and governance of recognized Stock Exchanges as well as Clearing Corporations are also provided in the Regulation broadly covering the following:

– Composition of Governance Board

– Guidelines for election of chairperson as well as number of public interest directors, appointment of Shareholder director, etc on the Governing Board.

– Conditions for appointment of Directors and the Managing director.

– Code of conduct for Directors and Key Managerial Personnel.

– Compensation and Tenure for Key Managerial Personnel.

– Segregation of regulatory department from other departments.

– Constitution of Oversight committee

– Constitution of Advisory Committee

– Constitution of Risk Management committee (in case of clearing corporations)

– To formulate and implement a comprehensive detail risk management policy.

– Appointment of compliance officer

– Transfer of Profits

– Transfer of penalties

– Disclosure and Corporate Governance norms.