Capital markets regulator Sebi on Wednesday said it has constituted Working Groups to recommend on simplification of various rules, ease of compliance, and reduction in the cost of compliance. Also, the regulator has sought suggestions from public and regulated entities till November 6 towards simplifying the rules.
The move came following an announcement made in the Union Budget for FY 2023-24.
In a statement, the regulator said it has formed Working Groups to recommend simplification of various Sebi rules.
“The Working Groups will also look into the compliance requirements to enhance ease of compliance and reduction in the cost of compliance,” the Securities and Exchange Board of India (Sebi) said.
At present, 16 Working Groups, under the aegis of its standing advisory committees, are reviewing compliance requirements under various Sebi rules applicable for entities, including listed companies, mutual funds, stock brokers, alternative investment funds, REITs (real estate investment trusts), InvITs (infrastructure investment trusts), portfolio managers, custodians, investment advisers, and research analysts.
In the Union Budget for FY23-24, the government announced that “to simplify, ease and reduce the 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”.