On July 21, the Securities and Exchange Board of India (SEBI) proposed new regulations for private debt platforms in the country in a new consultation paper. The envisaged changes could bring India’s growing number of online bond-trading platforms within SEBI’s orbit for the first time.
The consultation paper also tackles a range of other issues, including standardising debt market know-your-customer (KYC) requirements and heightening investor protections. Above all, however, SEBI’s proposals seek to reaffirm the distinction between private debt placements and public issuances in the country’s burgeoning corporate bond market.
