UK Sinha has been re-appointed as SEBI Chairman for another one year. His extended tenure was scheduled to be over on February 17, 2016. After re-appointment he will continue to head SEBI till March 01, 2017, officials informed.
Sinha, a 1976 batch IAS officer of Bihar cadre, assumed office as the Securities and Exchange Board of India (Sebi) chairman on February 18, 2011 when the previous UPA government was in the power. While Sinha was initially appointed with a three-year term, he was later given a two-year extension as chairman of the regulatory body.
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 launched a major crackdown on market manipulators including those misusing the stock exchange platform for tax evasion and money laundering.