Hiring a chief economist, status reports on the crackdown on shell companies, tackling the large number of cases pending investigation, and surveillance could be some of the key topics that SEBI board members are likely to discuss when they meet in Mumbai on Monday.

With talks going on since 2012, SEBI has plans to hire a chief economist. A chief economist would be responsible for the overall macro-economic scenario analysis, including interplay of various financial sector regulatory activities.

Among others, the officer would be required to strengthen research and database management capabilities and backing regulations and strategy with sound economics. The position of chief economist would be equivalent to that of an executive director at SEBI in terms of pay, allowances and benefits; an appointee for a three-year period would be entitled to a pay package of ₹55-lakh per annum. – internal and external candidates will be considered for the post.

The crackdown on shell companies assumes importance in the light of the fact that the regulator has drawn has flak for issuing instructions outside of its jurisdiction. In August, SEBI asked stock exchanges to ban 331 companies from trading on suspicions of being shell companies.

SEBI chief Ajay Tyagi recently expressed concerns about more than 7,000 cases older than two years pending investigation and enforcement. The board would discuss how to fast track it.

NSE’s algo-trading case, investigations into PwC and high-profile consent settlement applications sparked a debate about SEBI’s investigations and enforcement practices.

To select cases for enforcement actions, SEBI is thinking to put in place internal guidelines, which would also be made applicable for pending cases.

Improving stock-lending borrowing system, REIT regulations, weekly settlement of stock futures and relaxing norms for corporate disclosures could be some of the other topics on SEBI’s agenda.