"The role of market infrastructure institutions has been continuously evolving to meet the challenges of the emerging securities market. Accordingly, a committee has now been constituted under the chairmanship of Bimal Jalan," SEBI said in a release here today.

The committee may also look into the listing-related matters of the stock exchanges.

Commenting on the move, Prime Database managing director Prithvi Haldea said, "the committee has been set up to look into the ways to avoid conflict of interest between profit functions and regulatory functions of the stock exchanges. It could also look at the listing related matters of these exchanges." The SEBI said these institutions are increasingly called upon to undertake regulatory functions, including supervision of the markets, while simultaneously pursuing commercial objectives.