The Centre has appointed Mr U.K. Sinha as the SEBI's next Chairman. A formal order to this effect is being issued today, official sources said.
Mr Sinha will have a term of five years from the day he assumes charge. The incumbent Chairman, Mr C.B. Bhave, is due to retire on February 17.
Mr Sinha is CEO of UTI Asset Management Company. He is also the Chairman of the Association of Mutual Funds in India.