Making headlines for many right reasons, and one wrong

The Sebi chairperson kept everyone on their toes with an action-packed tenure

- ANANYA GROVER & JOYDEEP GHOSH Mumbai, February 27

In the past three years, Madhabi Puri Buch had one of the toughest jobs as a regulator -- keeping retail investors as safe as possible in a roaring bull market. The Securities Exchange Board of India's (Sebi) first woman chairperson -- and the first to come from the private sector -- who completes her three-year term during the weekend can take credit for achieving that, though some would argue most of the guidelines came only in the last few months amid a falling market.

The futures and options (F&O) and small and medium enterprises initial public offer (SME-IPO) guidelines are likely to go a long way in curbing retail enthusiasm in riskier segments. Further, the relentless crackdown on finfluencers has also ensured that there is more awareness about people providing trading tips under the garb of educational courses. Even mutual fund houses felt the regulatory pressure, with some even complaining that the regulator was being too harsh.

That Buch managed to bring in all these tough guidelines when retail investors were flocking to the market and it was rewarding them for even being reckless is quite commendable.