SEBI Restructures Advisory Committee on Mutual Funds Under the Chairmanship of Usha Thorat

On July 10, 2020, Securities and Exchange Board of India (SEBI), the regulator of the securities and commodity market in India, has reconstituted the committee advising it on matters related to regulation and development of the mutual fund industry by including five new members.

• The new 20 member committee, will be chaired by Usha Thorat, former deputy governor of Reserve Bank of India (RBI).

i.The previous 15 members panel that formed in 2013 was headed by Janki Ballabh, former Chairman of SBI.

Terms of Reference (ToR) of the committee are as follows,

• This committee will advise SEBI on issues related to regulation and development of the mutual fund industry for ensuring investor Protection.
• It will also suggest SEBI on disclosure requirements &advise measures required to be taken for change in the legal framework to introduce simplification and transparency in the mutual fund regulations.

Composition of the panel:

Mr. Ananth Narayan Associate Professor, Finance, SPJIMR; Mr. Ashish Chauhan MD & CEO, BSE ; Mr. Brij Gopal Daga Independent Trustee Director, Motilal Oswal Mutual Fund; Shri. Deepak Ranjan Deputy Director, Ministry of Finance ; Mr. Dhirendra Kumar CEO, Value Research India Pvt. Ltd ; Mr. Kailash Kulkarni CEO, L&T Investment Management Ltd ; Mr. K. N. Vaidyanathan Executive Vice President, Mahindra & Mahindra Ltd ; Ms. Monika Halan Consulting Editor, Mint Money ; Dr. M. S. Kamath General Secretary, Consumer Guidance Society of India ; Mr. Nilesh Shah Managing Director, Kotak Mahindra Asset Management Company Ltd; Mr. Nilesh Vikamsey Partner, Khimji Kunverji & Co; Mr. Nitin Vyakaranam CEO, ArthaYantra are some of the members of the panel which also include,

    – Mr. N. S. Venkatesh Chief Executive, Association of Mutual Funds in India

    – Mr. Rajnish Narula CEO, Canara Robeco Asset Management Company Ltd

    – Mr. Sandeep Parekh Managing Partner, Finsec Law Advisors

    – Mr. Sanjay Sapre President, Franklin Templeton Asset Management (India) Pvt. Ltd.  

    – Mr. Saurabh Mukherjea CEO, Marcellus Investment Managers Ltd

    – Mr. Sunil Gulati Independent Trustee, SBI Mutual Fund

     – Mr. S V Muralidhar Rao Executive Director, SEBI

About Securities and Exchange Board of India (SEBI):
Headquarters– Mumbai, Maharashtra
Chairman– Ajay Tyagi