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of <h1>New Regulation Requires Stock Exchanges to Form Nomination and Remuneration Committees for Key Management Compensation Decisions</h1> Regulation 27 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, mandates that recognized stock exchanges or clearing corporations establish a Nomination and Remuneration Committee. This committee, predominantly composed of public interest directors, determines the compensation for key management personnel based on a specified compensation policy. The managing director's compensation requires Board approval, and any changes need prior consent. Compensation details must be disclosed in reports under the Companies Act, 2013, including the ratio of compensation to the median employee compensation. The tenure for key management personnel, excluding directors, is fixed by the committee.
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