SEBI chairman Ajay Tyagi has reshuffled key portfolios at the Executive Director (ED) level. He has split the corporate finance department which consists of highly loaded portfolios to ensure that too much power is not concentrated in the hands of a few. The changes have taken place over the last couple of months. Now, Tyagi's team is a mix of civil servants and experts in the field of income tax and banking. Unlike the former chairman, Tyagi has kept the vigilance and internal inspection department with himself. The role of SEBI's chief vigilance officer (CVO) is mainly to keep tabs on SEBI officials and their dealings and detect and punish corrupt and prevent malpractices within the organization. The role of SEBI's earlier CVO had come under the CBI's scanner due to his dealings with market intermediaries. Anand Baiwar, who joined the SEBI as ED this month from the Indian Revenue Service (IRS), is assigned the investigations department, which has the highest number of pending cases. He will also handle the department that oversees operations related to foreign portfolio investors and custodians. S Ravindran, the ED who was in charge of SEBI's investigations department under former chairman UK Sinha, is placed in charge of the surveillance and information technology department. The surveillance department is comparatively less hectic and responsible for general observation of all segments of the securities market. Anantha Baruah, who earlier handled investment management, has been moved to the law enforcement and inquiry and adjudications department. These are areas where SEBI has been lagging behind.