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SEBI constitutes 'Municipal Bonds Development Committee'

Published: Feb 15, 2020

By TIOLCorplaws News Service

NEW DELHI, FEB 15, 2020: IN order to make recommendation s to SEBI on policy matters pertaining to development of municipal debt securities market, SEBI has constituted a Municipal Bonds Development Committee headed by Mr 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 mbdc@sebi.gov.in

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