Street signs: SAT's new presiding officer, trouble for brokers, and more

After the defaults by IL&FS, investors have become extra cautious of putting even their short-term money in these schemes

SAT to get a presiding officer 

The Securities and Appellate Tribunal (SAT), a quasi-judicial body that hears appeals pertaining to the securities, insurance and pension market, will soon get a presiding officer, said people with the knowledge. The position has been lying vacant since July when J P Devadhar demitted office. Sources say the government has identified a recently retired judge from the Allahabad High Court to join the tribunal. Currently, the tribunal has only one member – C G Nair. The absence of a presiding officer and adequate members have resulted in a huge backlog at the SAT. Sources