Description

SEBI Appellate Authority remands RTI application seeking NSE employee confidentiality policies and asset usage guidelines back to CPIO for fresh consideration.

Summary

SEBI’s Appellate Authority has disposed of RTI Appeal No. 6447 of 2025 filed by Sanjay Pandey by remanding the matter back to the Central Public Information Officer (CPIO) for fresh consideration. The appellant had sought information regarding NSE employee confidentiality requirements, asset usage policies, and SEBI directives on data confidentiality issued to stock exchanges from 2010 onwards. The CPIO had initially refused the request citing Section 7(9) of RTI Act, stating that collating the information would disproportionately divert resources.

Key Points

  • Appeal filed against CPIO’s refusal to provide NSE employee confidentiality and asset usage policy documents
  • Original RTI application dated May 15, 2025 sought comprehensive information on NSE internal policies
  • CPIO refused citing resource constraints under Section 7(9) of RTI Act
  • Appellant argued that Section 7(9) only governs manner of providing information, not denial
  • Appellate Authority remanded case for fresh consideration within 15 working days

Regulatory Changes

No regulatory changes announced. This is an administrative order directing reconsideration of an RTI application.

Compliance Requirements

  • CPIO required to reconsider the RTI application afresh and provide appropriate response within 15 working days
  • Response must comply with RTI Act provisions regarding information disclosure

Important Dates

  • Original RTI application: May 15, 2025 (received May 16, 2025)
  • CPIO response: June 13, 2025
  • Appeal filed: June 19, 2025 (received June 23, 2025)
  • Fresh response deadline: 15 working days from receipt of appellate order

Impact Assessment

This is purely an administrative matter related to information disclosure under RTI Act with no direct impact on market operations, trading systems, or regulatory compliance for market participants. The order may eventually lead to disclosure of NSE’s internal confidentiality and asset usage policies, which could provide transparency into exchange operations but is unlikely to affect market functioning or investor activities.

Impact Justification

Administrative RTI appeal order with no direct market impact or regulatory changes affecting trading operations