Finmin questions Sebi on NSE co-location audit

Why self-audit by NSE, why weren't charges probed under your supervision, Ministry asks regulator

The Finance Ministry has questioned the Securities and Exchange Board of India (Sebi) about its move to direct the National Stock Exchange (NSE) to conduct a forensic audit on itself.

In an October  2016 letter, North Block queried the market regulator why the investigation on the allegation against the exchange's co-location facility was instead not done under its own supervision.

"The Finance Ministry has asked Sebi to elaborate on the rationale of advice of NSE to conduct forensic investigation on its lapses rather than conducting it through its technical advisory committee (TAC)," Sebi said in a note presented to its board members.

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