Tuhin Kanta Pandey has been appointed as the new Chairman of SEBI on Tuesday by the Finance Secretary. The IAS officer belonging to the 1987 batch shall hold office for an initial period of 3 years.
“The Appointments Committee of the Cabinet has approved the appointment of Shri Tuhin Kanta Pandey, IAS (OR:1987), Finance Secretary and Secretary, Department of Revenue, to the post of Chaiman, Securities and Exchange Board of India, for a period of three years with effect from the date of his assumption of charge of the post, or until further orders, whichever is earlier,” a government order stated.
For the record, Pandey shall replace current Chief Sebi chief Madhabi Puri Buch, who took over charge in March 2022, and became the first woman to head the markets regulator.
Numerous disputes and regulatory challenges characterised Buch’s presidency. She was accused of having investments in offshore funds connected to the Adani Group, including by short-seller Hindenburg Research. Alongside these accusations, there were also reports of transgressions of SEBI’s code of conduct.
Interestingly, Madabhi Buch‘s predecessors, UK Sinha and Ajay Tyagi, had been given tenure extensions, with Sinha staying for six years, and Tyagi staying for four years, as SEBI chief.
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