About a dozen candidates have thrown their hats in the ring for the post of a whole time member of SEBI. Among them are three current officials of SEBI and a former member. They are current SEBI Executive Directors J Ranganayakulu, SK Mohanty, Ananta Barua and a former whole time member, Rajeev Agarwal. A selection needs to be done by the end of the month after the shortlisted candidates are interviewed. SEBI has three whole time member's post and one will fall vacant in September when S Raman, who handles both legal and investigations department, retires.
The other departments under Raman include Corporate Finance, Special Enforcement Cell, and Commodity Derivatives.
While Agarwal has experience as a whole time member, the three EDs have been associated in several legal matters of SEBI.
SEBI may also be looking for another legal head as Ranganayakulu, who was heading the department, retired this month.
Both open posts have become crucial in the wake of the ongoing probe into the algo-related matter and proposed consent settlement of the National Stock Exchange (NSE).
Reliance Industries (RIL) is said to be closely watching the progress of the NSE case and the consent settlement as SEBI had rejected the former's consent plea in a case related to alleged unfair trade practices.SEBI has banned RIL from the equity derivatives market for a year.
SEBI had also imposed a penalty of around Rs. 1,300 crore on the company, which has been challenged before the Securities and Appellate Tribunal.
Officials believe that the posts of whole time member and legal head are important for SEBI not only in terms of RIL and the NSE case but even as sensitive cases involving promoters of other major companies are pending with the regulator."
Dozen candidates in fray for SEBI's wholetime member
By IndianMandarins - 2017-08-16 12:16:21
About a dozen candidates have thrown their hats in the ring for the post of a whole time member of SEBI. Among them are three current officials of SEBI and a former member. They are current SEBI Executive Directors J Ranganayakulu, SK Mohanty, Ananta Barua and a former whole time member, Rajeev Agarwal. A selection needs to be done by the end of the month after the shortlisted candidates are interviewed. SEBI has three whole time member's post and one will fall vacant in September when S Raman, who handles both legal and investigations department, retires.
The other departments under Raman include Corporate Finance, Special Enforcement Cell, and Commodity Derivatives.
While Agarwal has experience as a whole time member, the three EDs have been associated in several legal matters of SEBI.
SEBI may also be looking for another legal head as Ranganayakulu, who was heading the department, retired this month.
Both open posts have become crucial in the wake of the ongoing probe into the algo-related matter and proposed consent settlement of the National Stock Exchange (NSE).
Reliance Industries (RIL) is said to be closely watching the progress of the NSE case and the consent settlement as SEBI had rejected the former's consent plea in a case related to alleged unfair trade practices.SEBI has banned RIL from the equity derivatives market for a year.
SEBI had also imposed a penalty of around Rs. 1,300 crore on the company, which has been challenged before the Securities and Appellate Tribunal.
Officials believe that the posts of whole time member and legal head are important for SEBI not only in terms of RIL and the NSE case but even as sensitive cases involving promoters of other major companies are pending with the regulator."
