The government has extended U.K. Sinha’s tenure as chairman of the Securities and Exchange Board of India (Sebi) until 1 March 2017 “or until further orders, whichever is earlier”. The decision came two days before Sinha finished a five-year tenure at the capital market regulator.
An earlier announcement would have helped this important institution maintain momentum in its policy- and decision-making process. Nevertheless, the extension means that Sinha has another year to leave Sebi in far greater shape than it was in when he took the helm.
In recent years, Sebi’s responsibilities have grown considerably—they now include oversight of commodity markets and collective investment schemes—and are likely to grow further. One way to look at this is that the work is cut out for the regulator’s chair. But the enormity of the tasks at hand also means that Sebi chairs could spread themselves too thin. It’s important, therefore, for Sinha to focus on the big picture.
