NEW DELHI: The Securities & Exchange Board of India (Sebi) top deck may soon don a new look with the government set to appoint two full-time members.
The move comes as the terms of two members-K M Abraham and M S Sahoo-are scheduled to end. The two are, however, eligible to seek reappointment. Last month, U K Sinha replaced C B Bhave as the head of the stock market regulator. Prashant Sharan, the third member, has two years left in his term. However, the government has decided to give a five-year term to the new members, unless they turn 65. tnn
The other new element in the terms listed in the advertisement issued by the finance ministry requires government servants to resign from service and take up a contractual assignment with the market regulator.
The members would be eligible to a conolidated pay of Rs 2.5 lakh a month or that of an additional secretary in case they choose to avail of benefits such as accommodation and transport from Sebi.
"A whole-time member shall be a person of ability, integrity and standing who has shown capacity in dealing with problems relating to securities markets or has special knowledge or experience of law, finance, economics, accountancy, administration or in any other discipline," the advertisement said.
ROHIT KALIA
PGDM 2ND SEM
The move comes as the terms of two members-K M Abraham and M S Sahoo-are scheduled to end. The two are, however, eligible to seek reappointment. Last month, U K Sinha replaced C B Bhave as the head of the stock market regulator. Prashant Sharan, the third member, has two years left in his term. However, the government has decided to give a five-year term to the new members, unless they turn 65. tnn
The other new element in the terms listed in the advertisement issued by the finance ministry requires government servants to resign from service and take up a contractual assignment with the market regulator.
The members would be eligible to a conolidated pay of Rs 2.5 lakh a month or that of an additional secretary in case they choose to avail of benefits such as accommodation and transport from Sebi.
"A whole-time member shall be a person of ability, integrity and standing who has shown capacity in dealing with problems relating to securities markets or has special knowledge or experience of law, finance, economics, accountancy, administration or in any other discipline," the advertisement said.
ROHIT KALIA
PGDM 2ND SEM
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