SEBI vide Circular No. SEBI/HO/MRD/DSA/CIR/P/2017/9 on Friday, 27th January, 2017 with reference to Regulation 45 of Stock Exchanges and Clearing Corporations (SECC) which provides for listing of Stock Exchanges (SE) on any Recognised Stock Exchange (RSE), other than itself and its associated stock exchange, in order to address conflict and to ensure effective compliance, it has been decided that:
- Listing Department of Listing SE (SE on which listing is done) shall be responsible for monitoring the compliance of Listed SE (SE which is getting listed);
- Independent Oversight Committee (IOC) of the Listing SE shall exercise oversight at the second level to deal with the conflicts or any appeal by Listed SE, if any;
- Independent Conflict Resolution Committee (CRC) constituted by SEBI, shall monitor potential conflicts between Listed and Listing SE on a regular basis, and if Listed SE is aggrieved by the decision of the IOC of the Listing SE, may appeal to the CRC.
The said Circular of SEBI is available at the following link:SEBI Circular_27.01.2017_ExchangeListingControlMechanism