SEBI Constitutes Municipal Bonds Development Committee
- Markets regulator Securities and Exchange Board of India (SEBI) has constituted a municipal bonds development committee
- The committee will be headed by the Executive Director of SEBI, Mr Sujit Prasad and comprise of representatives from municipal corporations, lawyers, professionals and market practitioners.
Role and Responsibility
- To advise SEBI on issues related to regulation and development of primary and secondary market of municipal debt securities.
- To advise SEBI on matters required to be taken up for changes in legal framework to introduce simplification and transparency in systems and procedures in the primary and secondary market.
- To advise SEBI on matters relating to regulation of intermediaries for ensuring investor protection in the primary and secondary market.
- To recommend SEBI on measures to facilitate issuers (i.e. municipalities) for issuance of municipal debt securities