PR No.06/2020

SEBI constitutes ‘Municipal Bonds Development Committee’

In order to make recommendations to SEBI on policy matters pertaining to development of municipal debt securities market, SEBI has constituted a Municipal Bonds Development Committee headed by Shri Sujit Prasad, Executive Director, SEBI and comprising of representatives from ministry, municipal corporation, lawyers, professionals and market practitioners as members.

The terms of reference of the committee would be as under:

a. To advise SEBI on issues related to regulation and development of primary and secondary market of municipal debt securities.

b. 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.

c. To advise SEBI on matters relating to regulation of intermediaries for ensuring investor protection in the primary and secondary market.

d. To recommend SEBI on measures to facilitate issuers (i.e. municipalities) for issuance of municipal debt securities.

The committee may be contacted at [email protected].

Mumbai

February 14, 2020

Municipal debt market development committee to advise on regulation, transparency, intermediary oversight and issuer facilitation. Constitution of a Municipal Bonds Development Committee to advise SEBI on regulation and development of the primary and secondary municipal debt securities market, recommend legal and procedural simplifications to improve transparency, advise on intermediary regulation for investor protection, and suggest measures to facilitate issuers (municipalities) in issuing municipal debt securities.