Govt said to accept tweaks to Securities Markets Code draft

The government has accepted 62 of the 1,055 stakeholder comments received on the draft Securities Markets Code, with key changes including extending the investigation deadline from 180 to 365 days, broadening appellate remedies before SAT, and granting depositories enabling powers to rectify records in cases of fraud or technical glitches. The Parliamentary Standing Committee on Finance, which reviewed inputs from SEBI and others, also clarified that supersession of MII and SRO governing boards will be exercised by the central government on SEBI's recommendation. The panel is expected to submit its report ahead of the Monsoon Session.