<ul><li>SEBI has prescribed a new appointment process for key management personnel (KMPs) of Market Infrastructure Institutions (MIIs) such as stock exchanges, clearing corporations, and depositories.</li><li>The new norms will be applicable for the appointment, re-appointment, termination, or resignation of KMPs like Compliance Officer, Chief Risk Officer, Chief Technology Officer, and Chief Information Security Officer.</li><li>An external agency will identify suitable candidates for these roles, to be reviewed and recommended by the Nomination and Remuneration Committee to the governing board of MIIs for final decision-making.</li><li>SEBI emphasized the importance of prioritizing efficient discharge of responsibilities towards public interest over commercial interest, and the regulator has made changes to re-appointment policies and cooling-off periods for PIDs and non-independent directors in MIIs.</li></ul>

SEBI prescribes appointment process for MII officials

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