(THE NEWSMAN OF INDIA.COM) As the tenure of Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch comes to a close on February 28, a few of SEBI’s current Whole-Time Members (WTMs) are reportedly vying for the coveted position. Sources suggest that two out of the four existing WTMs have submitted their applications to take over the helm of the regulatory body.

Madhabi Puri Buch, who made history in March 2022 as SEBI’s first female chairperson, will step down after completing her three-year term. Her successor is expected to be named soon, with speculation growing that a bureaucrat could fill the top post.

Of the two WTMs seeking the role, one was appointed in 2022, while the other, an Indian Revenue Service (IRS) officer, joined in 2023. While there is no formal restriction preventing a WTM from becoming the SEBI Chairperson, sources indicate that, historically, no individual has transitioned directly from a WTM role to the chairmanship of SEBI.

To ensure a fair and transparent selection process, the government recently published an advertisement inviting applications for the SEBI Chairperson position, with a deadline for submissions set for February 17. Candidates must meet specific criteria, including strong leadership abilities, integrity, and significant experience in addressing issues related to securities markets or specialized knowledge in a field beneficial to SEBI. As the search for a new leader continues, sources believe that Buch will soon make way for a new face at SEBI’s helm.