SEBI Chief: Market Reforms Enter Second Phase, New Plans Unveiled

• SEBI chief Tuhin Kanta Pandey announced the completion of the first phase of market reforms, with the second phase now underway.
• The second phase focuses on strengthening intermediaries, reviewing commodity market rules, and addressing GST hurdles with the GST Council.
• Proposals include a single Investor Protection Fund and increased awareness for farmers, FPOs, MSMEs, and businesses.
• Regulatory simplifications include reducing delivery periods, easing broker compliance, and rationalizing the penalty system.
• Recent initiatives like electricity futures on NSE and MCX, and reduced nickel contract lot size, aim to boost market activity.

Why It Matters: SEBI is actively pursuing comprehensive market reforms, focusing on investor protection, commodity markets, and regulatory simplification.