Capital market regulator SEBI chairman U K Sinha may continue his term for two more years, according to media reports.
A notification to this effect is reportedly expected in a day or two. U K Sinha was appointed as SEBI chairman in February 2011.
Sinha, a 1976 batch IAS officer from the Bihar cadre, succeeded C B Bhave, whose three-year term ended on February 17, 2011
The ex-UTI chairman brought about a host of changes to revive the fortunes of mutual fund industry. Most notably, SEBI is keen to expand the reach of mutual funds in B-15 cities, for which it has given a higher incentive to AMCs and has also mandated to invest two basis points of their AUM on investor awareness initiatives.
SEBI is also working on bringing a long term policy for mutual funds which will establish the role and purpose of mutual funds.
