The government has extended the term of <keyword id="6377754" type="PERSON" weightage="20" keywordseo="ajay-tyagi">Ajay Tyagi</keyword> as the Chairman of the <keyword id="6355630" type="UNKNOWN" weightage="20" keywordseo="securities-and-exchange-board-of-india">Securities and Exchange Board of India</keyword> (SEBI) by 18 months till February 2022. Tyagi's term was due to end on August 31, after his tenure was extended by six months in February. "The Appointments Committee of the Cabinet has approved the extension of term of appointment of Ajay Tyagi, as Chairman, Securities &amp; Exchange Board of India for a further period of 18 months w.e.f 01.09.2020 upto 28.02.2022 of until further orders, whichever is earlier," said a notification from the Department of Personnel &amp; Training on Wednesday. Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, took charge as the chief of the market regulator in 2017. SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/rbi-monetary-policy-announcement-will-consider-inflation-repo-rate-moratorium-and-restructuring-of-loans/articleshow/77365739.cms">Three things the RBI will have to mull over as it gets ready to announce its monetary policy decision</a> <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-finalises-10000-crore-share-sale-to-raise-funds-at-a-floor-price-of-442-19/articleshow/77354177.cms">Axis Bank finalises ₹10,000 crore share sale to raise funds at a floor price of ₹442.19</a> <a href="https://www.businessinsider.in/finance/banks/news/one-time-loan-restructuring-dilemma-rbi-wont-commit-and-india-inc-wont-stop-asking-for-it/articleshow/77328145.cms">One-time loan restructuring dilemma - RBI won’t commit, and India Inc won’t stop asking for it</a>

SEBI Chairman Ajay Tyagi's term extended for a second time till February 2020

<img class="gwt-Image" src="/photo/57084849.cms" /> 
 The government has appointed senior IAF office <keyword id="6377754" type="PERSON" weightage="100" keywordseo="Ajay-Tyagi">Ajay Tyagi</keyword> as <keyword id="83833" type="POSITION" weightage="20" keywordseo="SEBI-Chairman">Sebi Chairman</keyword> for a period of five years. He will replace <keyword id="6552595" type="UNKNOWN" weightage="20" keywordseo="U-K-Sinha">U K Sinha</keyword>, who was given an extension till March 1, 2017. Tyagi, a 1984 batch <keyword id="46130" type="ORGANIZATION" weightage="100" keywordseo="IAS">IAS</keyword> officer of Himachal Pradesh cadre, is at present Additional Secretary (Investment) in the <keyword id="144110" type="ORGANIZATION" weightage="20" keywordseo="Department-of-Economic-Affairs">Department of Economic Affairs</keyword> and handles capital market, among others. He has handled the capital markets division since 2014. Sinha, a retired IAS officer of Bihar cadre, was appointed as <keyword id="35210" type="ORGANIZATION" weightage="100" keywordseo="sebi">Sebi</keyword> chief in February 2011 for a three¬ year term, which was later extended by two years. Days before the end of his tenure in February last year, he was given another extension till March 1, 2017

New Sebi chief apponted: Govt appoints IAS officer Ajay Tyagi as Sebi chief

Mumbai, Feb 17 () Transparent working ways and consultative approach without "regulatory capture" were among the achievements listed out by Sebi chairman Ajay Tyagi as he described his current three-year tenure as "quite a good experience". Tyagi, whose current term ends later this month, however, kept everyone guessing on the question of an extension or if he has re-applied for the post. "It has been quite a good experience. Me and my team believed in a consultative approach and worked in a very transparent manner. We did not have any regulatory capture... we worked cautiously," Tyagi said on Monday in response to a query about his time at the helm. He said the nearly three-decade old Sebi is a very "vibrant organisation" and acknowledged that in a changing environment that it faces, there will always be challenges and work to be done. Tyagi was very reluctant to share his unfinished agenda but did mention a greater focus on enforcement of the regulations as among the things Sebi should be focusing on. When asked if he needs to re-apply for the post following the advertisement issued by the government last month, he declined to comment. Tyagi was speaking to reporters at the customary interaction with journalists after the board meet of Sebi. It would be the last such interaction for Tyagi if the government opts for a new candidate as Sebi chief. On whether Sebi has factored in a surplus to be transferred to the government in financial year 2019-20 as per Budget announcement, Tyagi replied in the negative. Without divulging the reasons, he confirmed a suggestion on there being no notification being issued by the government for the money. If Sebi pays surplus funds, then it would be the second regulator after Reserve Bank of India to transfer money to the government. The central bank had transferred an excess of Rs 50,000 crore to the government. AA RAM

Quite a good experience sans regulatory capture, opines Sebi chief on his tenure

(Eds: Incorporating related stories) Mumbai, Feb 17 () Continuing its efforts to further strengthen and deepen the capital market, Sebi on Monday approved stricter eligibility norms for investment advisers, capped their fees as well as green signalled regulatory sandbox for live testing of new products. Sebi board, which met for the first time after presentation of the 2020-21 Union Budget, also cleared amendments to fast track issuance of units to existing investors by REITs and InvITs. Addressing media after the meeting here, Sebi Chairman Ajay Tyagi, whose current tenure is ending later this month, said the regulator is actively looking at re-categorising mid-cap and small cap mutual fund schemes. Under the revised framework for investments, those dealing in distribution of securities would be barred from using titles like independent "financial advisers" or "wealth advisers", unless they are registered as investment advisers also. An individual adviser cannot provide distribution services, while firms would need to segregate advisory and distribution activities at client level to avoid conflict of interest, as per the watchdog. The new rules, framed after considering four consultation papers and public comments, also seek to bring in more clarity in payment of fees and introduction of upper limit on fees charged to investors. As part of measures to facilitate latest fintech innovations in the market, Sebi would permit live testing of new products, services and business models on select customers. Besides, a cross domain approach for the regulatory sandbox would be allowed, wherein a regulated entity can test solutions even for those activities for which it is not registered. Among others, changes in investment manager eligibility norms for Infrastructure Investment Trusts (InvITs) have been approved, a move that would help a mega offering worth an estimated Rs 20,000 crore by the National Highways Authority of India (NHAI). Asserting that whatever action is required would be taken, Tyagi said the watchdog would soon come out with a circular to prevent incidents like Karvy Broking Services Ltd (KSBL), which had allegedly misused clients's securities. Last November, the watchdog barred KSBL from taking new brokerage clients after it was found that the brokerage firm had allegedly misused clients' securities. According to him, only half of the top 500 companies complied with mandate to segregate the post of Chairman and Managing Director and practicalities resulted in Sebi extending the deadline by another two years. In January, Sebi deferred the requirement for splitting post of Chairman and Managing Director of the companies by two years to April 2022. Reflecting on his current tenure, Tyagi described it as "quite a good experience" and mentioned transparent working ways and consultative approach without "regulatory capture" as among the achievements. AA SP RAM RVK

Stricter norms for investment advisers, regulatory sandbox get Sebi board's green signal

New Delhi, Mar 9 () Markets regulator Sebi has embarked on a recruitment drive inviting applications for 147 senior-level executives as part of its plan to beef up its headcount for faster and more effective execution of its role.The Securities and Exchange Board of India (Sebi) plans to recruit legal as well as IT experts, researchers, and other officials for general administration.A total of 147 vacancies have been notified for Officer Grade A (Assistant Manager) by the markets watchdog. Candidates can apply for the posts through online mode only and the application window is opened from March 7-23, the regulator said in a notice.Applications have been invited for 80 posts of Assistant Manager for general stream, 34 posts for research stream and 22 vacancies for Information Technology department. In addition, it has invited applications for engineering and official language streams.For applying to general stream, the incumbent needs to have a Master's degree in any discipline or Bachelor's degree in law or engineering. This comes at a time when the government has extended the tenure of Sebi Chairman Ajay Tyagi by six months.Sebi is a statutory regulatory body established by an Act of Parliament, to protect the interests of investors in securities, to promote the development of and to regulate the securities market. SP ANUANU

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SEBI Chairman Ajay Tyagi's term extended for a second time till February 2020

IANS

New Sebi chief apponted: Govt appoints IAS officer Ajay Tyagi as Sebi chief

BI India Bureau

Quite a good experience sans regulatory capture, opines Sebi chief on his tenure

PTI

Stricter norms for investment advisers, regulatory sandbox get Sebi board's green signal

PTI

Sebi to increase headcount; invites application for 147 officer-level jobs

PTI

The $2.6-billion Rakesh Jhunjhunwala, called the ‘Warren Buffett of India’, has to protect an image that was built over 35 long years

BI India Bureau