Sebi overhauls 3 advisory committees

New Delhi: Markets regulator Sebi has restructured its three advisory committees pertaining to the secondary market, mutual funds, and corporate bonds and securitisation.

Rejigging its secondary market committee, Sebi has listed Zerodha's co-founder and chief executive officer (CEO) Nithin Kamath among the new inductees in the 17-member panel, latest information on the regulator's website showed. The advisory committee will now be chaired by Madhabi Puri Buch, ex-whole time member of Sebi.

The panel was earlier headed by IIM Ahmedabad professor and former whole-time member of Sebi, Jayanth R Varma. Other members of the panel include Dhiraj Relli, MD and CEO of HDFC Securities; Kaku Nakhate, President and Country Head India at Bank of America; Naresh Yadav, MD and CEO of SBICAP Securities; and Leo Puri, Chairman, JP Morgan, South and Southeast Asia.

The panel advises the regulator on matters related to the secondary market, including suggesting steps to improve market safety, efficiency and transparency. With regard to the advisory committee on mutual funds, Sebi has inducted Navi Asset Management Company MD and CEO Saurabh Jain, Morningstar India MD Aditya Agarwal and The Hindu Business Line consultant editor Aarati Krishnan. Franklin Templeton Asset Management (India) Pvt Ltd President Sanjay Sapre and Kotak Mahindra AMC MD Nilesh Shah will no longer be part of the committee.

The 24-member advisory committee will be chaired by Usha Thorat, former deputy governor of the Reserve Bank of India (RBI). Others on the panel include Tata Asset Management MD and CEO Prathit D Bhobe; SBI Funds Management MD and CEO Vinay Tonse; etc.