Sebi To Set Up Exit Norms For Exchanges

The Securities and Exchange Board of India (Sebi) may draft exit rules for stock exchanges seeking to close down, Mint reports. Amendments will be made to the Securities Contracts (Regulation) Act, 1956, which will give regional exchanges an option to exit.

The closure norms may also allow listed firms to switch to an alternative trading platform with least compliance procedures. The regulations will specify the bourses’ allocation of assets among members and shareholders of listed companies.

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