BCCL
This graduate from IIM-A went on to become India’s first woman to head India’s market regulator Securities and Exchange Board of India (SEBI). However, this is not the only first to her credit – she is also the first from the private sector and also the first non-IAS to hold that position.
Mandated to regulate the world’s fifth largest stock market, she now faces many challenges, including the post-Covid and post-war volatility in the markets, unprecedented numbers of retail investors in equity markets and the entry of new-age internet companies into the exchanges.
“Without industry support it is difficult for SEBI to get rid of all evils that we know of -- front running, insider trading, information asymmetry, fraudulent transactions, manipulations of stock prices. I don’t think that we can claim that we have rid the market of its own peculiar versions of smallpox and polio,” she said in one of her first addresses as SEBI chair, also adding the need for better disclosures by IPO-bound companies.
Promising that she will help aid capital formation in equity and debt, Buch is also tightening the rules around alternate investment funds (AIFs).