Role of the Independent Oversight Committee for Product Design

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....adam, Sub.: Role of the Independent Oversight Committee for Product Design 1. SEBI vide its circular CIR/CDMRD/DEA/03/2015 dated November 26, 2015, has prescribed "Timelines for compliance with various provisions of securities laws by commodity derivatives exchanges". In the said circular, on the issue of oversight committees, SEBI has advised all the commodity derivatives exchanges as under....

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....r 'Product Design' in all the commodity exchanges shall be as under- 2.1. To oversee matters related to product design such as introduction of new products/contracts, modifications of existing product/contract designs etc. and review the design of the already approved and running contracts. 2.2. To oversee SEBI inspection observation on Product Design related issues. 2.3....

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.... relevant bye-laws, rules and regulations for the implementation of the same. ii. bring the provisions of this circular to the notice of the members of the Exchange and also to disseminate the same on their website. 7. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investo....