Hunt for new SEBI’ Chairman begins

The Finance Ministry has begun the hunt for a new Chairman for market regulator Securities and Exchange Board of India (SEBI) as the extended term of incumbent Chairman Ajay Tyagi is due to end on February 28, 2022. In its order, the Financial Markets Division of the Ministry’s Department of Economic Affairs has stated that the tenure of the appointment would be for a maximum of five years or until 65 years – whichever is earlier. The last date for the application is December 6, 2021. The appointment is made by the Centre on the basis of recommendations made by the Financial Sector Regulatory Appointment Search Committee (FSRASC).