CAS here to stay, but open to review for improvement: SEBI (Tuhin Kanta Pandey)

What happened

SEBI Chairperson Tuhin Kanta Pandey conveyed a reported position attributed to SEBI officials: CAS is expected to remain in place. The reported stance also states that SEBI is open to reviewing CAS for improvement, aiming to achieve better regulatory outcomes while keeping the broad framework intact.

Background and earlier position

CAS (capital markets framework) is discussed in the context of regulating securities markets and market structure through enforceable rules. When SEBI signals that a broad framework should continue, SEBI is generally prioritising stability for market participants along with supervision and investor protection requirements embedded in the regulatory design.

What changed now

SEBI’s reported position shifts emphasis from “only continuing CAS” to “continuing CAS while reviewing it for improvement.” The direction described is review for improvement rather than replacement of the broad approach.