SEBI Advisory Committee on Mutual Funds restructured

SEBI, the market regulator, has revamped its mutual fund advisory committee. According to the latest update with the Securities and Exchange Board of India (Sebi), the 25-member advisory council will be chaired by Usha Thorat, a former Deputy Governor of the Reserve Bank of India (RBI). Previously, the panel consisted of 24 people.

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Committee Aim:

• The committee’s mission is to advise the Securities and Exchange Board of India (SEBI) on problems relating to mutual fund regulation and development.
• It can also advise the regulator on disclosure requirements and steps necessary for a change in the legal framework to bring mutual fund laws closer to simplification and transparency.

Members in the Advisory Committee:

• Neeraj Choksi, Chairman of NJ India Invest, has been appointed to the advisory council by the regulator.
• Sunil Gulati, Independent Trustee at SBI Mutual Fund, and Dharmishta Narendraprasad Raval, Independent Trustee at DSP Mutual Fund, are among the other members.
• Prathit D Bhobe, MD and CEO of Tata Asset Management, Vinay Tonse, MD and CEO of SBI Funds Management, Swarup Mohanty, CEO of Mirae Asset Investment Managers (India), MD and CEO of Sundaram Asset Management Company.
• The panel also includes Sunil Subramaniam, Navin Agarwal, MD and CEO of Motilal Oswal Asset Management Company, and A Balasubramanian, Chairman of the Association of Mutual Funds in India (AMFI).
• The committee also includes officials from the BSE, NSE, Computer Age Management Services (CAMS), KFin Technologies, as well as the finance ministry and Sebi.