Government invited applications to fill position of Sebi’s whole time member

Vastavam web: The government today invited applications to fill up the position of a whole time member at markets regulator Sebi.Currently, Sebi has two whole-time members Madhabi Puri Buch and G Mahalingam — while Sanjeev Kaushik was appointed a whole-time member last month. However, he is yet to join the markets regulator.In an advertisement, finance ministry has invited applications for the position of a whole time member. The person would be appointed for a five-year period or till attaining the age of 65 years, whichever is earlier.

Spelling out the eligibility criteria, it said that the candidate should have 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 and administration among others.Earlier, the Securities and Exchange Board of India (Sebi) had written to the finance ministry recommending that a fourth position of whole time member be created and the post should be filled up on priority basis, which was accepted by the ministry.

As per the Sebi Act, the board comprises a chairman, one member each from the finance ministry, corporate affairs and RBI, besides, five other members of whom at least three should be the whole-time members.