To curb unregistered advice and unauthorised market claims, SEBI released a consultation paper outlining measures like a verified label or badge system for SEBI-registered entities on Tuesday.
Their six-page rebuttal offers detailed clarifications, addressing the "malicious campaign", particularly regarding Dhaval's consulting assignments and Madhabi's tenure at SEBI as the chairperson.
The market regulator in its new circular mandated all market infrastructure institutions, like stock exchanges, to be "true to the label" in how charges are levied.
Material events for which decisions have been taken in the meeting of the board of directors must be disclosed to exchanges within 30 minutes, says SEBI.
The market regulator says that the move will give greater flexibility to the industry, and will allow the self-sponsored AMCs to continue the mutual funds business.