U K Sinha will continue as SEBI chairman till March 2017 after the government extended his term for a year. This is the second time Sinha has got extension after he was appointed as SEBI chairman in February 2011 for a term of three years. Sinha was given a two-year extension as SEBI chairman in 2014.
"The Appointments Committee of the Cabinet has approved re-appointment of U K Sinha, Chairman, SEBI with effect from February 18 up to March 1, 2017 or until further orders whichever is earlier," a government notification said.
Sinha has introduced a host of measures for the MF industry, most notably raising the net worth of AMCs to Rs. 50 crore, additional TER to expand B15 markets, introduction of seed capital, asking AMCs to invest 2 basis point of AUM in IAPs, SRO for distributors, among other things.
Prior to joining SEBI, Sinha was heading UTI MF.
