𝐒𝐄𝐁𝐈 𝐏𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐬 𝐢𝐭𝐬 𝐀𝐧𝐧𝐮𝐚𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 2023-24

On 09.08.2024, SEBI published its annual report for FY 2023-24 as per the Securities and Exchange Board of India (Annual Report) Rules, 2021 as framed by the Central Government (Ministry of Finance).

SEBI’s performance highlights for 2023-24:

1.    Policy Making and Industry Standards: SEBI’s 20 Advisory Committees held 57 meetings, discussed 232 policy agendas, and issued 47 consultation papers. Eight Industry Standards Forums were formed, holding 44 meetings and addressing 170 agenda items.

2.         Policy Measures and Risk Mitigation: SEBI introduced 106 policy measures, including 24 master circulars and 31 amendments. The AMC Repo Clearing recorded ₹33,778 crore in trading volume, and new frameworks for risk management and client funds were established.

3.Transparency, Market Development, and Ease of Business: SEBI mandated ESG disclosures, introduced T+0 settlement for select scrips, and streamlined bond issuance. It also relaxed entry norms for social stock exchanges and allowed flexible methods for InvITs and AIFs.

4.         Technology and Market Supervision: SEBI enhanced market surveillance with AI tools and improved the online reporting system. It conducted inspections of 97 stock brokers, 37 DPs, and other entities, and processed 92% of public equity offer documents.

The following are SEBI’s focus area moving forward in 2024-25:
1.    Primary Markets and Corporate Bond Markets: SEBI will review delisting processes, takeover regulations, and rights issue frameworks to enhance flexibility, reduce compliance burdens, and align with global practices. It also plans to revise corporate governance norms for high-value debt entities.

2.         Secondary Markets and Market Intermediaries: Key initiatives include strengthening clearing corporations’ roles, enhancing performance evaluations, and streamlining regulations for stock brokers and investment advisers. A new Performance Validation Agency will be introduced to verify claims made by intermediaries.

3.         Mutual Funds and AIFs: SEBI aims to introduce lighter regulations for passive mutual funds, explore a new asset class for investors, and facilitate low-ticket SIPs for greater financial inclusion. For AIFs, stricter due-diligence standards will be established.

4.         Technology and Market Surveillance: Initiatives include developing a chatbot for investor engagement, enhancing cybersecurity frameworks, and improving the process for handling show cause notices. SEBI will also review definitions and regulatory frameworks related to insider trading and market malpractices.

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