Money Sep 17, 2012
Capital market regulator Sebi is looking to hire two senior legal officers who will advise it on the legal aspects of the securities market, besides a host of issues related to litigations.
The Securities and Exchange Board of India (Sebi) has a separate legal affairs department, which is responsible for providing legal counsel to it and to its other departments. Besides, this department also handles non-enforcement litigation matters and broadly comprises of two divisions.
The two senior officers to be hired by Sebi would attend to Sebi's various legal work, including litigations, documentation, and would also render opinion on legal aspects on securities market.
Sebi plans to hire two Grade-A officers in legal stream and has invited applications for these posts by October 16. The officers would be appointed on contract basis.
The policy division of Sebi's Legal Affairs Department works to formulate the regulator's legislative initiatives and reviews the proposed legislation for various market entities.
It also handles testimony and statutory drafting assistance and is responsible for establishing a clear legal framework and basis for the various categories of Sebi regulations, guidelines, circulars and directions.
The other division of regulatory assistance supports other Sebi departments by providing help and guidance wherever necessary in developing market rules and interpretations.
The Legal Affairs Department is currently headed by Sebi's Executive Director J Ranganayakulu, under the overall supervision of the market regulator's whole-time member Rajeev Kumar Agarwal.
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