Capital market regulator Sebi today said S K Mohanty took charge as an executive director from September 29.
This follows the merger of Forward Markets Commission (FMC) with Sebi on September 28. Mohanty was serving as director at FMC.
"Mohanty has been posted in the Commodities Derivatives - Market Regulation Department (CD-MRD) which has been created by Sebi for its regulatory oversight over the Commodities Derivatives Market," Sebi said in a release.
An Indian Revenue Service (IRS) officer, Mohanty has also served in the Income Tax Department in various capacities at Kolkata, Nagpur and Mumbai.
According to a notification issued by the Finance Ministry prior to the merger, seven director-level officials of FMC were to become a part of Sebi from September 29.
Marking the first ever merger of two regulators, FMC merged with Sebi on September 29 that would help strengthen as well as streamline regulatory framework to curb manipulations in the commodities derivatives segment.
The amalgamation of over six-decade old FMC with the Securities and Exchange Board of India (Sebi) would also ensure that NSEL-like fiascoes are dealt with more effectively.
