The SMC signifies a progressive initiative to update India’s securities market by consolidating different acts into a single statute. If successfully adopted, the code will rewrite the securities market in India, redefining legislation, enforcement, and the investor experience.

The SMC is a forward-looking move in the modernisation of the capital market regulation India. It goes beyond codifying the various disparate statutes in one instrument and instead attempts to effect a structural redefined securities laws.

SEBI’s new framework for considering the MII as the first-level regulators is a welcoming step.

The introduction of stringent guidelines for sharing real-time pricing data will mark a crucial advancement in the financial market.

This post offers an outline of the SEBI’s proposal on introducing T+0 and instant settlement cycle.

Policymakers and regulators in India should consider the adoption of a more structured hybrid governance model for MIIs.