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SEBI has asked market infrastructure institutions (MIIs) such as stock exchanges, clearing corporations and depositories to constitute seven committees. Earlier, there were 12-14 committees, which has now been cut down. SEBI said the committees should include member selection committee; nomination and remuneration committee and oversight committee. These should comprise standing committee on technology, advisory, regulatory oversight and risk management. The composition, quorum and functions of the panels should be as specified by the board from time to time. Our Bureau
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