SEBI Invites Young Professionals for 1-3 Year Internships: Check Details Here

The Securities and Exchange Board of India (SEBI) has introduced a Young Professional (YP) Programme aimed at hiring talented individuals in their twenties to support the SEBI Board with securities market and IT-related tasks. This initiative seeks to engage fifty young professionals in Mumbai, offering a unique opportunity to gain valuable experience in the regulatory framework of the securities market.

Programme Details

The initial hiring is for one year, with the possibility of two one-year extensions.
Each professional will receive a monthly stipend of ₹70,000.

These professionals will not be considered SEBI officers or employees and will not receive compensation or employment benefits for death, illness, or injury during their tenure.

Eligibility Criteria

Qualifications:

The programme is open to post-graduates in management, chartered accountants, company secretaries, cost management accountants, and chartered financial analysts from the CFA Institute, US.

These individuals can work in the Securities Market Operations (SMO) domain.
Engagement Rules:

• Young professionals may be assigned non-confidential projects based on their expertise.
• They are prohibited from taking up any other assignments during their engagement with SEBI.
• This initiative marks SEBI's first extensive use of gig or temporary workers.

Scope of Work

Young professionals will have a range of responsibilities, including:

Primary Market Tasks:

• Analyzing IPO applications and fundraising methods.
• Streamlining public offer document processing and drafting letters for buybacks and takeovers.

Other Responsibilities:

• Mutual fund surveillance.
• Identifying roles of public interest directors and shareholder directors.
• Handling corporate governance matters.
• Analyzing data of compulsorily delisted firms.
• Reviewing court cases involving credit rating agencies and debenture trustees.

Trading Restrictions

Young professionals must adhere to strict trading restrictions:

Prohibited Activities:

• They cannot trade or speculate in stocks, securities, or commodities.
• They are not allowed to make direct or indirect investments in equity-related instruments like convertible debentures and warrants.

Permitted Investments:

They can invest in mutual funds, ETFs (exchange-traded funds), nonconvertible bonds, nonconvertible debentures, and rights issues of shares they already hold.

Insider Trading Rules:

• These professionals will be deemed "insiders" and must not act on or share any unpublished price-sensitive information.
• They are also restricted from causing someone else to act on such information.