SEBI prescribes a framework for Governing Council of the Social Stock Exchange
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- Last Updated on 15 October, 2022
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Circular no. SEBI/HO/MRD/MRD-RAC-2/P/CIR/2022/141, dated: 13.10.2022
SEBI has prescribed a framework for governing council of the Social Stock Exchange (SSE). Now, as per Regulation 292D of the ICDR Regulations, 2018, every SSE is required to constitute a Social Stock Exchange Governing Council (SGC) which will have an oversight on the functioning of the Board. The council is expected to provide guidance to facilitate the smooth functioning of the operations of the SSE with regard to registration, fund raising and disclosures by social enterprises.
Further, the SGC shall comprise of individuals with relevant experience who can contribute to the development of the Social Stock Exchange. SGC will have a minimum of 7 members having representation from non-profit organisations, Stock exchange, Social impact investors, Philanthropic and social sectors, Information Repositories, Social Audit Profession and Capacity Building Fund. The same shall be supported by the administrative staff from SSE.
Click Here To Read The Full Circular
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