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Regulator Overhauls MII Leadership Structure
12 Dec, 2025
Summary
- Market infrastructure institutions must appoint two executive directors.
- New framework clarifies roles for managing and executive directors.
- Reporting lines and governance responsibilities are being restructured.
The Securities and Exchange Board of India (SEBI) has introduced a formalized framework to restructure leadership and governance within market infrastructure institutions (MIIs). This move aims to significantly enhance oversight and accountability across entities such as stock exchanges, clearing corporations, and depositories.
The regulator has detailed specific roles and responsibilities for managing directors and executive directors. As part of the mandate, MIIs must now appoint a minimum of two executive directors. This change is expected to create clearer lines of authority and responsibility within these critical financial organizations.
Furthermore, the new directives encompass restructuring reporting lines and overall governance responsibilities. This initiative by SEBI also defines the roles of chief technology officers and chief information security officers, ensuring a comprehensive approach to leadership and operational integrity.
