Sebi chairman Ajay Tyagi has his task cut out
Enforcement is an important area where Sebi chairman Ajay Tyagi should ensure the regulator pulls up its socks
Ajay Tyagi, the new chairman of the Securities and Exchange Board of India (Sebi), has inherited one of India’s best regulators. While Sebi deserves credit for what it has achieved in the past 28 years, there’s still much left to be done. Being among India’s best regulators isn’t a laurel to rest on, especially given the poor state of affairs at most other regulators. As pointed out in this column, Sebi is now in the so-called mature phase of the lifecycle of a regulator. It has nothing much original left to do, and is left mainly with the painful and thankless job of enforcing regulation.