New Delhi: U.K. Sinha will remain the Sebi chairman till March 1, 2017 as the government has extending his term by over a year on Monday.
The extension for Mr Sinha, whose current term was to end on February 17, was approved by the Appointments Committee of the Cabinet.
During his tenure, Sebi has implemented a number of reforms in the capital markets including regarding IPOs, mutual funds and corporate governance.
Some of the key initiatives announced recently include a new regime for listing of startups, while Sebi has also acted against market manipulators including those misusing the stock exchange platform for tax evasion and money laundering.
Commodities markets regulator FMC was also recently merged into Sebi, while there have also been apprehensions that a change of guard at this time can be avoided given the sharp volatility in the capital markets globally.
