SEBI Launches Young Professional Programme with ₹70,000 Monthly Stipend: Opportunities for Aspiring Finance Professionals

The Securities and Exchange Board of India (SEBI) has introduced a Young Professional (YP) Programme. This initiative is aimed at assisting SEBI in matters related to the securities market and information technology.

SEBI plans to hire 50 young professionals who will be stationed in Mumbai. They will receive a monthly stipend of ₹70,000 and will be initially engaged for one year, with the possibility of two year extensions. However, it’s important to note that these interns will not be classified as SEBI officers or employees and will not be entitled to compensation or employment benefits in the event of death, illness, or injury during their tenure.

The selected young professionals will work on projects or tasks based on their expertise, primarily involving non-confidential matters. During their engagement with SEBI, they are prohibited from taking up any other assignments. This marks a significant step by the regulator to utilize the skills of gig or temporary workers in its operations.

Eligibility Criteria

The programme is open to postgraduates in management, chartered accountants, company secretaries, cost management accountants, and chartered financial analysts from the CFA Institute, USA. Those who meet these qualifications are eligible to work in the Securities Market Operations (SMO) domain.

Key Responsibilities

The tasks assigned to the young professionals may include:

• Analysis of IPO Applications: Evaluating IPO applications and various fundraising methods in the primary market.
• Public Offer Processing: Streamlining the review process of public offer documents, as well as drafting letters for buybacks and takeovers.
• Mutual Fund Surveillance: Monitoring mutual fund activities.
• Corporate Governance: Identifying the roles of public interest directors and shareholder directors, and addressing corporate governance matters.
• Data Analysis: Examining data related to compulsorily delisted firms and analyzing past and current court cases involving credit rating agencies and debenture trustees.

Restrictions on Trading Activities

Young professionals in the programme will not be permitted to engage in trading or speculation of stocks, securities, or commodities. They are also restricted from making direct or indirect investments in equity and equity-related instruments, except for specific financial products like mutual funds, ETFs, and non-convertible bonds and debentures. As “insiders,” they are prohibited from acting on or communicating any unpublished price-sensitive information.

This initiative by SEBI provides a unique opportunity for young finance professionals to gain hands-on experience in the securities market while contributing to the regulator’s mission.