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Finance Ministry appoints new SEBI Whole Time Member

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The Ministry of Finance, vide the Department of Economic Affairs notification S.O. 4362(E) dated September 19, 2022 has appointed the Shri Ananth Narayan as the fourth Whole Time Member (‘WTM’) of the SEBI.

Section 4(1)(d) and 4(4) of SEBI Act 1992 read with Rule 3 of SEBI (Terms and Conditions of Service of Chairman and Members) Rules, 1992, empower the Central Government to appoint upto five WTMs. Furthermore, Section 4(5) lays down the criteria for the appointment of the WTM.

In view of its aforesaid powers the Central Government (through the Ministry of Finance) has appointed Shri Ananth Narayan, who has an illustrious background in the sector of Banking & Finance as a new WTM of SEBI, for a period of three years from the date of assumption of charge. Shri Ananth Narayan, in addition to being a Senior India Analyst at Observatory Analyst LLC, is also currently serving as the public interest director at National Securities Clearing Corporation Limited as well as the National Stock Exchange-International Financial Services Centre GIFT City IFSCA Official. He is also an associate professor at SPJIMR SP Jain Institute of Management & Research.

An alumnus of Indian Institute of Technology, Bombay and Indian Institute of Management, Lucknow, Shri Ananth Narayan started his career at Citi Bank in 1993, wherein he went on to become a Director. In his three decade long career, he has been at the helm of several financial sector institutions, such as being the Managing Director of Deutsche Bank and was also appointed as Independent Director of National Securities Depository Limited (NSDL). Shri Ananth Narayan’s association with SEBI dates back to 2017, when he was appointed as a member of the Mutual Funds Advisory Committee.

Copy of the gazette notification of his appointment is attached below.

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