Mumbai: The Securities and Exchange Board of India (SEBI) hopes to issue guidelines on changes to the Closing Auction Session (CAS) in about a week, Chairman Tuhin Kanta Pandey said on Saturday.
Speaking at an event organised by BSE Brokers’ Forum here, Pandey said we are currently examining the comments and hope to issue guidelines in about a week’s time, referring to the consultation paper issued to address concerns over the settlement price of derivatives on expiry days.
He further noted that SEBI would focus on deepening cash markets and improving price discovery.
Wider participation, stronger securities borrowing and lending and more efficient hedging and arbitrage could improve liquidity and market efficiency, he said.
Following review of CAS, a consultation paper was put out to address concerns in respect of the settlement price of derivatives on expiry date, he said.
Moreover, the market watchdog is also reviewing regulations governing depositories and their participants to simplify rules and strengthen fraud prevention.
For brokers, regulator is exploring graded compliance requirements based on their scale, client exposure and dependence on technology.
Separately, SEBI is addressing concerns over transactions such as tender offers, buybacks and offers for sale that remain outside interoperability framework.
“These require parallel clearing arrangements, adding to costs and compliance requirements. Implementation of changes is targeted by end of November 2026,” Pandey said.
Apart from that, SEBI has also sought comments on simplifying digital onboarding for persons resident outside India, including non-resident Indians, without requiring their physical presence. Consultation has received more than 400 comments, he said.
Emphasising investor awareness, Pandey said SEBI aimed to take investor education to universities and colleges across country.
Brokers and other intermediaries must play active role in this effort, he added.
–IANS–
