The Securities and Exchange Board of India (SEBI) is set to deliberate on a wide-ranging regulatory overhaul at its board meeting scheduled for Wednesday. The agenda includes a comprehensive review of mutual fund and stock broker regulations, relaxed know-your-customer (KYC) norms for non-resident Indians (NRIs), and the introduction of a closing-auction session in the equity markets, according to officials.

This will be the fourth board meeting chaired by SEBI Chairman Tuhin Kanta Pandey, who took charge on March 1. A key item on the agenda is the report of a high-level panel that has recommended stronger transparency measures, including mandatory public disclosure of assets by senior SEBI officials to prevent conflicts of interest and promote a zero-tolerance ethical culture.

The panel’s report, submitted to the SEBI chief on November 10, also proposes several governance reforms. These include the creation of a secure and anonymous whistleblower mechanism, a ban on accepting expensive gifts, a two-year cooling-off period for post-retirement assignments, and the establishment of a Chief Ethics and Compliance Officer (CECO) position within the regulator.

Also Read: India and Austria Review Bilateral Relations in Vienna Consultations

On the regulatory front, SEBI is expected to take up its proposed overhaul of mutual fund rules, for which consultation papers were issued in October. The proposals include redefining the Total Expense Ratio (TER), removing the additional 5 basis points earlier allowed to asset management companies, and excluding statutory levies such as GST, STT, CTT, and stamp duty from TER limits to improve clarity and transparency.

The board will also consider updating the three-decade-old Stock Broker Regulations, 1992. As part of this revamp, SEBI has proposed introducing a formal definition of algorithmic trading to streamline compliance and bring greater regulatory clarity. Officials said these changes aim to modernise market regulations in line with evolving trading practices and technological advancements.

Also Read: Over 10 Lakh Voters May Be Deleted from Bengal’s Electoral Roll After ECI Review