Overview
- SEBI chairman Tuhin Kanta Pandey set out a coordinated reform agenda that includes a graded compliance regime for stockbrokers, tiered AI rules, an AI sandbox, tokenised corporate bonds under Demat 2.0 and a market‑making framework for corporate debt.
- Pandey announced the proposals at the ANMI International Capital Market Convention on Saturday, saying the measures are mostly in development and will require detailed rule text and industry consultation before implementation.
- The proposed graded compliance model would scale obligations to a broker’s size, client exposure and reliance on technology to improve capital efficiency and cut undue compliance burden for smaller firms.
- SEBI said it is finalising tiered guidelines for the responsible use of AI with clear accountability, data controls, emergency shutdowns and human oversight, and it is exploring an AI sandbox to test tools under regulatory safeguards.
- The plan also targets market infrastructure and investor protection by allowing tokenised bonds to trade in secondary markets to boost liquidity, building safeguards against trading‑terminal misuse, consolidating inspection portals into one digital workflow and extending automated give‑up/take‑up to custodial clients.