Correct Answer: Option 2: Securities and Exchange Board of India (SEBI)

Key Points

• In December 2021, the Securities and Exchange Board of India (SEBI) restructured its advisory committee on market data.
• This committee is responsible for recommending policy measures related to securities market data access and privacy.
• The restructuring aims to enhance the efficiency and transparency of market data dissemination.
• SEBI’s focus on data access and privacy is crucial for protecting investor interests and ensuring a fair trading environment.
• Market data plays a vital role in the functioning of financial markets, influencing trading decisions and market behavior.

Why Other Options Are Wrong

• Reserve Bank of India (RBI): While RBI is a key financial regulator in India, it is not primarily responsible for securities market data. Its focus is more on monetary policy and banking regulations.
• Insurance Regulatory and Development Authority of India (IRDAI): IRDAI regulates the insurance sector and does not deal with securities market data.
• Pension Fund Regulatory & Development Authority (PFRDA): PFRDA oversees pension funds and is not involved in the regulation of securities market data.
• None of the above: This option is incorrect as SEBI is indeed the institution that restructured its advisory committee on market data.

Quick Tip for Exam

When preparing for exams, focus on understanding the roles of different regulatory bodies in India. Knowing which institution handles specific areas such as banking, insurance, and securities can help you answer related questions accurately.