SEBI rejigs primary market advisory panel

Capital markets regulator Sebi has reconstituted its Primary Market Advisory Committee (PMAC) which advises it on issues related to the regulation and development of IPOs and other such segments.

The 24-member panel is chaired by T V Mohandas Pai, Chairman of the Manipal Global Education Services.

PMAC also advises 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 market.

The other members of the panel include BSE CEO Ashish Chauhan, NSE chief Vikram Limaye, ICAI President Nilesh Vikamsey, ICSI President Shyam Agrawal and Sebi's executive directors -- Ananta Barua and Amarjeet Singh.

RBI Chief General Manager Lily Vadera, Sebi Chief General Manager Jayanta Jash and Nikhil Verma, deputy secretary at finance ministry are also the members of the panel.

The terms of reference of the committee include advising Sebi on matters to be taken up for changes in the legal framework to introduce simplification and transparency in systems and procedures in the primary market.

Besides, it has also been mandated to advise Sebi on matters relating to regulation of intermediaries for ensuring investor protection in the primary market.