Stock Exchanges Now Permitted to Operate as Risk-Return Verification Data Centers Under New Regulation 38B

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....SEBI has amended the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 through notification F. No. SEBI/LAD-NRO/GN/2025/238 dated March 20, 2025. The amendment introduces Regulation 38B, which permits recognized stock exchanges to function as Past Risk and Return Verification Agency Data Centres with SEBI's approval. This new provision, which takes effect upon publication in the Official Gazette, creates a regulatory framework allowing stock exchanges to verify risk-return metrics as referenced in Regulation 12A(2) of the SEBI (Credit Rating Agencies) Regulations, 1999, subject to conditions specified by the Board.....