Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Fourth Amendment) Regulations, 2025 - SEBI/LAD-NRO/GN/2025/276 - SEBI

Stock exchange governance updated: mandatory executive directors, CTO and CISO with defined management, risk and cyber responsibilities.

Amendments require recognised stock exchanges and clearing corporations to appoint two executive directors (for Vertical 1 and Vertical 2) with stature, appointment process, tenure and approval parity to the managing director; expand the managing director's roles to include enterprise management, compliance oversight, vertical stewardship, risk management and infrastructure assurance; and mandate appointment of a chief technology officer and a chief information security officer with specified responsibilities for IT risk, technology policy, cyber resilience and remediation of audit observations.