By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Reading: UK Sinha Assumes Office, Begins New Term As Sebi Chairman
Share
Aa
Aa
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Search
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2023 BeFirsTrank News Network
Future

UK Sinha Assumes Office, Begins New Term As Sebi Chairman

srijita
Last updated: 2016/02/18 at 4:56 PM
By srijita 3 Min Read
Share
SHARE
UK Sinha Assumes Office, Begins New Term As Sebi Chairman

New Delhi: U K Sinha today began his new term as Chairman of capital markets regulator Sebi following his reappointment to this position by the government.

Sinha, who became Chairman of the Securities and Exchange Board of India (Sebi) on February 18, 2011, was initially appointed for a three-year term and was later given a two-year extension.

Days before his last term was to end on February 17, the government approved his re-appointment to the position from February 18, that is today, till March 1 next year.

Sinha’s re-appointment, approved by Prime Minister Narendra Modi-headed Appointments Committee of the Cabinet, is being seen as a vote of confidence for continuity at the top amid volatile market conditions.

He was eligible for another term of little over a year as a person can hold the position of Sebi Chairman till the age of 65, which Sinha would reach next March.

This would keep him in office for little over six years -the second-longest for this position in Sebi’s over 25-year-history after D R Mehta’s seven-year term from 1995 to 2002.

The regulatory ambit of the Securities and Exchange Board of India (Sebi) has further expanded in recent months with the merger of erstwhile commodities regulator FMC with it.

Sebi, which regulates stock exchanges, various kinds of market entities including brokers, mutual funds, FIIs, rating agencies and investment bankers, as also thousands of listed companies, was also given greater powers during Sinha’s tenure to help it crack down more effectively on market manipulators and fraudulent money-pooling schemes.

There had also been apprehensions that a change of guard at this time could be avoided given the sharp volatility in the capital markets globally.

During Sinha’s tenure, Sebi has implemented a number of capital markets reforms including those related to IPOs, mutual funds and corporate governance. A key initiative announced recently is a new regime for listing startups.

Other keenly watched developments during Sinha’s tenure have been the action taken by the regulator against hundreds of ponzi schemes and lately against over 1,000 individuals and companies suspected of tax evasion and laundering of black money through the stock exchange platform.

Sebi has also acted against illicit money-pooling schemes from high-profile groups like Sahara, Saradha and Rose Valley, while several big corporates including Reliance, DLF and FTIL have seen regulatory action against them during his tenure.

Before joining Sebi, Sinha was heading UTI Mutual Fund. Prior to that, he had served in Finance Ministry, among other positions, as an IAS officer when he spearheaded several initiatives, such as banking and capital market reforms.

[“source-auto.ndtv”]

You Might Also Like

Fatherhood, marriage, and Longevity in the

India is at the forefront of the digital revolution

How the future will be altered by artificial intelligence

Cybersecurity audit: what it is and why you need one?

Personalized advertising fuels growth and drives competitiveness for European businesses

TAGGED: as, Assumes, Begins, Chairman, new, Office, Sebi, Sinha, Term, UK
srijita February 18, 2016
Share
Previous Article 2016 Kawasaki Versys 650 Review
Next Article MFs Bullish on IT Stocks; Exposure at Record High of Rs 43,000 Cr

Calendar

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    

Latest Trending News

  • Your Ebike Battery is Draining Too Quickly? Six Reasons August 29, 2025
  • Test of Turbo Petrol-Powered Automobiles: Actual City and Highway Fuel August 26, 2025
  • Buying a Used VW Car in Albuquerque? Here’s What to Know August 21, 2025
  • What to Do If the Trunk of Your Nissan Won’t Open August 20, 2025
  • Fatherhood, marriage, and Longevity in the August 14, 2025
  • Style, Luxury, and Innovation in a New Car Coming in 2024 August 13, 2025
  • Interior of the 2025 Mitsubishi Outlander PHEV August 8, 2025

© 2023 Befirstrank News Network. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?