Markets regulator Sebi on Thursday asked clearing corporations to post all the past regulatory orders as well as arbitration and appellate awards on their websites within 30 days, while fresh orders need to be uploaded immediately. The move is aimed at improving transparency, the Securities and Exchange Board of India (Sebi) said in a circular.
Sebi has decided that all regulatory orders –orders against clearing members and arbitration/ appellate awards by arbitrators need to be made available to investors. “Accordingly, it has been decided that the Clearing Corporations shall post all regulatory orders and arbitration /appellate awards issued since June 20, 2012 (that day rules governing stock exchanges and clearing corporation were notified) on their websites within 30 days,” the regulator noted.
Further, fresh orders would be posted on their website immediately. Besides, clearing corporations would have to disseminate information with respect to brief profile, qualification, areas of experience, expertise, number of arbitration matters handled on their website. They need to communicate to Sebi, the status of the implementation of the norm in the monthly development report.