'India will want a lot of help from the US, but it's not going to want US troops.'
The 42-year-old Acharya's appointment for a three-year tenure was cleared by the Appointments Committee of the Cabinet.
The high-level panel, chaired by former Chief Justice of Karnataka and Kerala High Courts, K Sodhi, had focused on reviewing the Sebi (Prohibition of Insider Trading) Regulations, 1992.
Sebi decided to incorporate a provision in this regard in its new Corporate Governance Code
Sinha started his tenure at Sebi a bit shakily making people wonder if he'd complete his three years. Eventually, he went on to stay twice that long.
U K Sinha's six-year tenure as chairman of Securities and Exchange Board of India ends later this week. Sinha held his last press conference in Mumbai on Monday, where he spoke on wide-ranging issues and his biggest regret.
Insider trading -- dealing in securities with prior access to unpublished price-sensitive information -- has been attracting regulatory attention worldwide.
In its efforts to make listed firms more responsible towards investors, Sebi may announce new insider trading norms as early as next week.