Corporate governance reforms mandate expanded codes of conduct, board composition standards and strengthened risk and compliance obligations. The amendment broadens the definition of key management personnel, introduces a mandatory Code of Conduct for exchanges and clearing corporations and for their governing boards and key personnel, prescribes board composition and qualifications including public interest directors, requires segregation of functions into critical, regulatory and other verticals with a Chinese Wall policy, mandates appointment of a chief risk officer and grievance redressal panels, prescribes data sharing and disclosure frameworks, sets compensation norms with deferred variable pay and clawback, and expands the Board's enforcement and relaxation powers.
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Corporate governance reforms mandate expanded codes of conduct, board composition standards and strengthened risk and compliance obligations.
The amendment broadens the definition of key management personnel, introduces a mandatory Code of Conduct for exchanges and clearing corporations and for their governing boards and key personnel, prescribes board composition and qualifications including public interest directors, requires segregation of functions into critical, regulatory and other verticals with a Chinese Wall policy, mandates appointment of a chief risk officer and grievance redressal panels, prescribes data sharing and disclosure frameworks, sets compensation norms with deferred variable pay and clawback, and expands the Board's enforcement and relaxation powers.
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