Government Invites Applications For Two SEBI Whole-Time Member Positions

The Government of India has invited applications to fill two Whole-Time Member (WTM) positions at the Securities and Exchange Board of India (SEBI), the country’s capital markets regulator, according to a notification issued by the Department of Economic Affairs (DEA) under the Ministry of Finance on May 26.

The move comes at a time when SEBI continues to operate with a full board structure that includes a chairman, four full-time members, and four part-time members. Currently, the WTM positions are held by Kamlesh Chandra Varshney, Amarjeet Singh, Sandip Pradhan, and K. V. R. Murty. Notably, Varshney and Singh are expected to complete their three-year tenure in September, though both remain eligible for reappointment as the upper age limit for the post is 65 years.

According to the official notification, the government is seeking to appoint candidates of “high integrity, eminence and reputation,” preferably with over 20 years of professional experience and falling within the 45–60 age bracket. Eligible applicants are expected to possess expertise in areas such as securities markets, law, finance, economics, accountancy, or public administration, or any other discipline considered relevant to SEBI’s regulatory mandate.

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The Whole-Time Member post carries a tenure of up to five years, subject to the condition that the appointee does not continue beyond the age of 65. The rules also permit reappointment under applicable provisions. Additionally, the government emphasized that selected candidates must not hold any financial or other interests that could compromise their regulatory responsibilities or impartiality in decision-making.

Applications for the two posts are open until June 30. The appointments will be made by the Central Government based on recommendations from the Financial Sector Regulatory Appointments Search Committee (FSRASC). The committee also retains the authority to identify and recommend suitable candidates who have not formally applied, based on merit and suitability.

SEBI plays a critical role in regulating India’s capital markets, overseeing investor protection, market integrity, and enforcement of securities laws. The appointment process for its top leadership positions is therefore closely watched, as it directly influences the functioning and credibility of the country’s financial regulatory framework.

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