NSE Reacts to SEBI’s Order on Governance Failures, Says Will Extend ‘Full Co-operation’ to Regulator

The National Stock Exchange (NSE) responded to the Securities and Exchange Board of India‘s (SEBI) order on governance failures on February 16 by saying it is committed to the highest standards of governance and transparency and will work with the regulator to resolve the issue satisfactorily.

In a press release, the exchange stated, “We wish to stress that NSE is committed to the highest standards of governance and openness and would extend full co-operation to the regulator for a satisfactory resolution of the issue.”

The exchange further stated that it has implemented SEBI guidelines on a variety of issues throughout the years and has made a number of steps to improve the control environment, including the technology architecture.

SEBI has previously stated that former NSE CEO Chitra Ramkrishna communicated information with a reputed spiritual guru in the Himalayas, including the bourse’s financial projections, business goals, and board agenda.

“The sharing of NSE’s financial and business plans… is a flagrant, if not inconceivable, act that might shatter the stock exchange’s fundamental foundations,” SEBI wrote in the ruling, fining Ramkrishna, the bourse, and other top former officials for the lapses.

Source: Money Control