The Securities and Exchange Board of India (SEBI), which oversees the country’s markets, said on Friday that three of its top officials—Amit Pradhan, Avneesh Pandey, and Sanjay Chandrakant Purao—have been promoted to Executive Directors. All three were previously Chief General Managers, so they have a lot of expertise in their new, bigger jobs.
The appointments come at a very important moment since SEBI is working to improve its ability to regulate and enforce rules in a financial system that is changing quickly. The regulator made separate public statements to explain the new duties of each of the newly appointed Executive Directors.
Amit Pradhan is now in charge of the prosecution and settlement department and the legal affairs department. Pradhan has a lot of experience in legal and regulatory matters, enforcement, and policy formulation. He has been doing this for 28 years. His long career includes work at the Competition Commission of India (CCI), the Insolvency and Bankruptcy Board of India (IBBI), and SEBI. He is also known for his work as a quasi-judicial officer, where he was a full-time designated authority and an adjudicating officer. Before this promotion, he was the Chief General Manager and Regional Director of SEBI’s Northern Regional Office in New Delhi.
Avneesh Pandey, who calls himself a “technology strategist, process innovator, and cybersecurity evangelist,” will now be in charge of the IT department. Pandey has been a key player in many IT projects for the past 30 years as a securities market regulator. He knows a lot about IT audits, cybersecurity, big data analytics, SupTech (supervisory technology), and business process innovation.
Sanjay Chandrakant Purao has been given a very important job that includes the corporation financial investigation department, the recovery and refund department, and the internal investigation department. Purao has worked in a lot of different areas at SEBI since joining in 1996, including integrated surveillance, market regulation, investment management, and corporation finance. He has also been in charge of SEBI’s office in Hyderabad and has been an active member of policy-making committees at home and abroad.
These three experienced professionals’ appointments show SEBI’s dedication to improving its internal governance and operational efficiency so that it may better carry out its mission of protecting investor interests and regulating India’s securities market.