Tuhin Kanta Pandey, who took charge as the 11th chairman of the Securities and Exchange Board of India (Sebi) on Saturday, outlined the four priorities of the capital markets regulator — trust, transparency, teamwork and technology.
Restoring the credibility of Sebi and assuaging retail investors amid the current stock market mayhem, while bringing full transparency into certain high-profile investigations are expected to be among the priorities of the new chairman.
“Sebi is a very robust market institution built over the years with successive leadership. We hold the trust of the people of India, the Parliament of India, the government, the investors, the industry and trust is very important,” he said.
Pandey, a career bureaucrat who was serving as the finance secretary till now, was appointed chairman of Sebi by the government on Thursday for three years. He replaces Madhabi Puri Buch, whose three-year tenure ended on Friday. Buch, who is reportedly unwell, was not present when Pandey arrived.
All four Sebi whole-time members, Ashwani Bhatia, Amarjeet Singh, Ananth Narayan and Kamlesh Varshney, welcomed Pandey at the Sebi headquarters.
With Pandey leading Sebi, economic affairs secretary Ajay Seth was given additional charge of the post of secretary at the department of revenue.