Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
SEBI issued a circular establishing a comprehensive governance framework for Key Management Personnel (KMPs) in Market Infrastructure Institutions (MIIs). The circular mandates an independent external agency-driven appointment process for critical roles like Compliance Officer, Chief Risk Officer, Chief Technology Officer, and Chief Information Security Officer. The Nomination and Remuneration Committee will evaluate recommendations, with the Governing Board making final appointment decisions. Additionally, the circular introduces provisions for a cooling-off period for KMPs joining competing MIIs and requires rationale documentation if a Public Interest Director is not re-appointed. The regulatory changes aim to enhance institutional governance, prioritize public interest, and ensure strategic personnel management across market infrastructure entities.
SEBI issued a circular establishing a comprehensive governance framework for Key Management Personnel (KMPs) in Market Infrastructure Institutions (MIIs). The circular mandates an independent external agency-driven appointment process for critical roles like Compliance Officer, Chief Risk Officer, Chief Technology Officer, and Chief Information Security Officer. The Nomination and Remuneration Committee will evaluate recommendations, with the Governing Board making final appointment decisions. Additionally, the circular introduces provisions for a cooling-off period for KMPs joining competing MIIs and requires rationale documentation if a Public Interest Director is not re-appointed. The regulatory changes aim to enhance institutional governance, prioritize public interest, and ensure strategic personnel management across market infrastructure entities.
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