Sebi rejigs advisory committee on MFs
Sebi has revamped its committee that advices the market regulator on matters related to regulation and development of the mutual fund industry. The 15-member advisory committee on mutual funds is headed by Janki Ballabh, former chairman of SBI. The advisory committee is mandated to advise Sebi on issues related to regulation and development of mutual fund industry. Besides, it can advice the regulator on disclosure requirements and measures required for change in the legal framework to introduce simplification and transparency in the mutual fund regulations.
Sebi begins search to fill up EDs position
Sebi has begun the search for a new executive director to fill a position that has fallen vacant after exit of S Ramann from the regulatory authority. Ramann, an Indian Audit and Accounts Service officer who spent over six years at Sebi, including about two years as ED, left earlier this month after he was called back to his parent organisation, the CAG. He was first sent to Sebi on deputation as an officer on special duty in 2007.
Cut and paste job costs Tata co R2.28 lakh
An erroneous cut and paste job in updating its shareholding pattern has cost a Tata group firm, the Tinplate Company of India, R2.28 lakh as payments towards settlement of a case with Sebi. The market regulator, in a consent order dated June 28, has settled charges of takeover norms violation by the Tinplate Company of India (TCIL) after it paid R2.28 lakh.