Markets regulator Sebi has restructured its advisory committee on mutual funds. The 25-member advisory committee will be chaired by former Deputy Governor of the Reserve Bank of India (RBI) Usha Thorat,, according to the latest update with the Securities and Exchange Board of India (Sebi). Earlier, the panel had 24 members.
The regulator has inducted Chairman of NJ India Invest Neeraj Choksi in the advisory committee. Other members include Independent Trustee at SBI Mutual Fund Sunil Gulati, and Independent Trustee at DSP Mutual Fund Dharmishta Narendraprasad Raval.
Tata Asset Management MD and CEO Prathit D Bhobe, SBI Funds Management MD and CEO Vinay Tonse, Mirae Asset Investment Managers (India) CEO Swarup Mohanty, Sundaram Asset Management Company MD Sunil Subramaniam, Motilal Oswal Asset Management Company MD and CEO Navin Agarwal and Association of Mutual Funds in India (AMFI) Chairman A Balasubramanian are also part of the panel.
Also, chiefs of BSE, NSE, Computer Age Management Services (CAMS), KFin Technologies as well as representatives of finance ministry and Sebi are part of the committee. The committee is mandated to advise Sebi on issues related to regulation and development of mutual fund industry. It can also advise the regulator on disclosure requirements and measures required for a change in the legal framework to introduce simplification and transparency in mutual fund regulations.