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SEBI Forms Hybrid Securities Advisory Committee (HySAC) Chaired by KV Kamath

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SEBI forms advisory committee on hybrid securities chaired by KV Kamath

The Securities and Exchange Board of India (SEBI), India’s market regulator, has established a 20-member Hybrid Securities Advisory Committee (HySAC), which will make recommendations for boosting the growth of such instruments, including measures focusing on ease of issuance and attracting domestic & global capital.

  • Kundapur Vaman Kamath(KV Kamath), the Chairperson of the National Bank for Financing Infrastructure and Development, will chair the committee.

Hybrid Securities Advisory Committee (HySAC)

i. In addition, top-level officials from Infrastructure Investment Trusts (InvITs), Real Estate Investment Trusts (REITs), and finance, as well as legal experts and SEBI representatives, make up the 20-member committee.

ii.A REIT has a portfolio of commercial real estate, the majority of which is already leased, whereas an InvIT has a portfolio of infrastructure assets such as highways and power transmission assets.

  • Hybrid securities, such as REITs and InvITs, are relatively new investment instruments in India, yet they are immensely popular in global markets.

Members of HySAC

Apart from Kamath, the committee has members including: Harsh Shah; Sanjay Grewal; Tushar Kawedia; Mathew George; Preeti Chheda; Aravind Maiya; Samarth Jagnani; Kranti Mohan; Pratichi Mishra; Deepa Rath; Paul Alvares; Gautam Mehra; Monika Halan; Gopikrishnan M S; Rakesh Vyas; Srinivasa Rao Sureddi; Nagendraa Parakh; Harini Balaji; Deena Venu Sarangadharan.

Official link of the list of members.

Terms of Reference of the Hybrid Securities Advisory Committee (HySAC)

i. To advise SEBI on problems relating to the development and regulation of primary and secondary markets of Hybrid Securities in India.

ii.To explore Hybrid Securities use case scenarios in the context of the Indian economy’s infrastructure finance needs, and to give recommendations for building instruments to address those needs.

iii. To propose recommendations that will allow more retail investors to participate in hybrid securities while also protecting interest of investors.

iv.To propose recommendations for enhancing engagements with other stakeholders, such as raising investor awareness of Hybrid Securities.

v.To give recommendations on capital-markets-based infrastructure funding

SEBI Has Reconstituted Research Advisory Committee (RAC)

SEBI has reconstituted its 16-member Research Advisory Committee (RAC), which is in charge of promoting, developing, and maintaining databases relevant to capital market regulation research.

  • Dr. V. Ravi Anshuman, Professor at Indian Institute of Management (IIM) – Bangalore, will chair the panel.

Members of Research Advisory Committee (RAC)

The other members of the panel include: Samir Shah; H K Pradhan; Madan Sabnavis; Pawan Agrawal; Sudhir Bassi; Dr. N. R. Bhanumurthy; Vikram Kothari; Piyush Chourasia; Dr. Prachi Deuskar; Aarti Nihalani; Dr. Jitendra Mahakud; Dr. Latha Chari; Dr. Apoorva Javadekar; Sujit Prasad; Prabhas Kumar Rath.

Official link of the list of members.

Terms of reference of the Research Advisory Committee (RAC)

i. To define objectives, scope and direction of research relevant for development and regulation of capital markets in India and for SEBI, especially keeping in view the linkage of research to policy making.

ii.To define research objectives, scope, and direction relevant to the development and regulation of capital markets in India and for SEBI, with a focus on the link between research and policymaking.

iii. To promote, develop, and maintain relevant databases for capital market regulation research.

iv.To explore into research collaborations with external experts, such as other regulators and academic institutions, both domestically and internationally, if needed.

v.To promote and develop research proposals from both internal and external researchers.

About Securities and Exchange Board of India (SEBI):
Chairperson – Madhabi Puri Buch
Establishment – 1992
Headquarters – Mumbai, Maharashtra