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The stock market regulator, Securities and Exchange Board of India, has chosen McKinsey to help it ‘restructure' itself. McKinsey will make recommendations on four internal and two external areas, confirmed sources.
The consultant has the mandate to study and make recommendations on four internal areas — organisational structure, HR, reprioritise areas of focus and technology.
The two external areas are sharing of regulation and oversight with self-regulatory organisations and co-operation with external agencies.
SEBI had called for bids to appoint a business and strategic management consultant in mid-January.
Marketmen said regulator should not have included areas of focus, interface with self regulatory organisations and cooperation with external agencies in its brief.
They added, “Being only 20-year old as a regulator, it is trying to obtain third party view on focus and exact demarcation of responsibilities with SROs so that others do not object using the vested interest plank.”
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