The Union Government has appointed Anant Barua as whole-time member of the Securities and Exchange Board of India (SEBI). He is has been appointed to post for three years on the pay as admissible to additional secretary to the central government or a consolidated salary of Rs 4 lakh per month.
Barua is at present executive director in SEBI. He had taken charge as executive director of market regulator in May 2010. Prior to this assignment, he was legal adviser, Legal Affairs Department (LAD), SEBI. He had been working in LAD since 1992. He is commerce graduate with LL.B from the University of Delhi. He was on deputation to Central Bank of Bahrain as legal adviser and has also worked with National Fertilizers Ltd. (NFL), Industrial Finance Corporation of India (IFCI) and DCM Ltd.
Securities and Exchange Board of India (SEBI)
SEBI is statutory regulator for securities market in India established in 1988. It was given statutory powers through tSEBI Act, 1992. Its mandate is to protect interests of investors in securities, promote development of securities market and to regulate securities market. It is headquartered in Mumbai, Maharashtra.
SEBI is responsive to needs of three groups, which constitute market, issuers of securities, investors and market intermediaries. It has three functions quasi-legislative (drafts regulations in its legislative capacity), quasi-judicial (passes rulings and orders in its judicial capacity) and quasi-executive (conducts investigation and enforcement action in its executive function).