The Ministry of Finance has invited fresh applications for the post of Securities and Exchange Board of India (Sebi) chief on Monday as Madhabi Puri Buch’s tenure ends on February 28.
The last day for submission of applications is February 17.
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Buch took charge of the board on March 1, 2022 and was the first person from the private sector, the youngest, and the first woman to hold the position.
She had earlier served as the whole-time member of Sebi from April 2017 to October 2021.
The advertisement for the post was published in several newspapers on Monday. According to the advertisement, the new appointment will be for the duration of five years instead of the usual three-year tenure.
The new Chairperson will serve for a maximum term of five years or until the age of 65, whichever is earlier. The Department of Economic Affairs’ Financial Markets Division will accept applications until February 17, 2025.
Applicants must be at least 50 years old and possess over 25 years of relevant experience. The Ministry’s notification specifies that candidates must demonstrate exceptional ability, integrity, and expertise in areas such as securities markets, law, finance, economics, accountancy, or administration. The Central Government will assess the relevance of the candidate’s knowledge and experience to SEBI’s operations.
The Chairperson must be an individual of integrity and standing, capable of addressing challenges in the securities market. Additionally, the candidate should not hold, or in the future have, any financial or other interests likely to impair their ability to perform the duties of the office impartially.
