MUMBAI: Outgoing SEBI chairman Ajay Tyagi said that SEBI had tried in its “right earnest” to resolve the NSE colocation matter and governance lapses at the exchange. He was responding to queries on whether the regulator had diluted orders against the former NSE management led by Chitra Ramkrishna and whether NSE was let off lightly in the colocation matter, where certain brokers were allegedly given unfair access to exchange data feeds over other members.
“The colocation matter was complex. We have come out with orders within our remit and understanding,” he said at a press conference after handing charge to Madhabi Puri Buch, the first woman chair at Sebi.
“Now there are other enforcement agencies which also have their own mandate,” said Tyagi, adding that the regulator had and continues to cooperate with the investigating agencies.
Meanwhile, SEBI said, “Madhabi Puri Buch took charge as Chairperson, Securities and Exchange Board of India in Mumbai, today. Ms. Buch has served as Whole Time Member, SEBI till October 04, 2021. She has handled Market Regulation Department, Market Intermediaries Regulation & Supervision Department, …”
Buch holds an M.B.A. from the Indian Institute of Management, Ahmedabad and is a Graduate in Mathematics from St. Stephen’s College, New Delhi. At SEBI, she handled the Market Regulation Department, Market Intermediaries Regulation & Supervision Department, Integrated Surveillance Department, Investment Management Department, Department of Economic & Policy Analysis, Office of Investor Assistance & Education, National Institute of Securities Markets and Information Technology Department.
NSE matter was complex
The colocation matter was complex and SEBI has acted within its remit, Tyagi said at a press conference after handing charge to Madhabi Puri Buch, the first woman chair at SEBI.