Before being selected to head SEBI, Mr Sinha was the chairman and managing director of UTI Mutual Fund, and prior to this, a joint secretary in North Bloc
Upendra Kumar Sinha assumed the office as the chairman of the Securities and Exchange Board (SEBI) today from the outgoing chairman Chandrashekar Baskar Bhave, who had considerably raised the bar of the authority of the institution during his three-year tenure.
As the eighth chairman of the market's watchdog, UK, as he is known among his friends, has a tough task cut out for him, since his predecessor had placed the institution highly above suspicion and had also shown the real powers of SEBI to one and all-especially the mighty.
Before being selected to head SEBI, Mr Sinha was the chairman and managing director of UTI Mutual Fund, and prior to this, a joint secretary in North Bloc (June 2002-October 20052).
Hopefully, the persuasive skills of this 1976 batch IAS officer from the Bihar cadre will come to his aid as while dealing with the government at a time when the latter is seriously planning to clip the financial autonomy of various regulators by forcing them to keep the funds with the Consolidated Fund of India.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam