Former RBI Deputy Governor Usha Thorat is the new Chairperson of SEBI MF advisory committee

SEBI has reconstituted its mutual fund advisory committee (MFAC).

The market regulator has appointed former RBI Deputy Governor Usha Thorat as the new Chairperson of MFAC. She replaces Arundhati Bhattacharya.

Four new faces – Ashish Chauhan, MD and CEO, BSE, Deepak Ranjan Deputy Director, Ministry of Finance, Sunil Gulati, Independent Trustee, SBI Mutual Fund and SV Muralidhar Rao, Executive Director, SEBI join the committee. While two members have replaced two former member – CES Azariah, Independent Trustee Director, UTI Mutual Fund and Nikhil Varma, Deputy Secretary, Ministry of Finance, two new members have been inducted in the committee.

With this, the market regulator has increased the number of members from 18 to 20.

Nitin Vyakaranam, CEO, ArthaYantra will continue to represent financial distribution industry.

SEBI’s Mutual Fund Advisory Committee was constituted in 2008 under the chairmanship of C B Bhave. The committee was reconstituted in 2011, 2013 and 2017. The committee advises SEBI on the development, disclosures and regulatory aspects of the mutual fund industry. The committee has been instrumental in taking up many initiatives that have left a lasting impact on the industry.

Here is the updated list of MFAC members