‘Empowered’ Sebi now set for 60% staff expansion
29 July 2013 10:33 PM GMT
Having been given greater authority to take on market manipulators and fraudulent schemes, Sebi has begun the process of beefing up the headcount to around 1,000 for faster and more effective execution of powers.
While an independent consultant recently suggested to Sebi that it increase the headcount by more than 50 per cent within 2-3 years, from about 600 employees currently, the regulator now aims to expand its workforce at a faster pace, a senior official said.
The government decision to grant greater execution powers and a larger oversight role for potential investment frauds would require Sebi to have a much larger workforce, and the regulator would soon begin hiring officers and other staff members across its various departments and offices, he added.
The regulator has begun internal consultations on its workforce requirements.It is also considering tapping outside talent pools on case-to-case basis, sources said, adding that Sebi has also begun the groundwork for a large number of prosecution cases it would pursue soon.
While an independent consultant recently suggested to Sebi that it increase the headcount by more than 50 per cent within 2-3 years, from about 600 employees currently, the regulator now aims to expand its workforce at a faster pace, a senior official said.
The government decision to grant greater execution powers and a larger oversight role for potential investment frauds would require Sebi to have a much larger workforce, and the regulator would soon begin hiring officers and other staff members across its various departments and offices, he added.
The regulator has begun internal consultations on its workforce requirements.It is also considering tapping outside talent pools on case-to-case basis, sources said, adding that Sebi has also begun the groundwork for a large number of prosecution cases it would pursue soon.
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