Former Assistant Legal Advisor, SEBI
Future Legal Leader 2021 – India Business Law Journal
Author, Commentary on SEBI Act (Taxmann)
Advisory Board, Post Grad Securities Law Course, GLC Mumbai
Visiting Faculty, NISM; NLUs and Others
Sumit founded Regstreet Law Advisors after almost a decade at SEBI. Sumit is one of the most respected practitioners in the financial regulatory space. He advises corporates, commodity and stock exchanges, intermediaries as well as their promoters, key management and investors, on various issues. He has extensively handled matters related to SEBI, Stock Exchanges, IRDAI (insurance regulator) and their appellate bodies, the Securities Appellate Tribunal (SAT) and the Supreme Court of India.
Sumit also advises clients on regulatory requirements for obtaining registrations and recognition of products with regulators such as SEBI, RBI, IRDAI, PFRDA, IFSCA and IBBI in addition to undertaking internal investigations and governance issues.
Alumnus of National Law University Jodhpur, Sumit at SEBI worked with various verticals viz. Integrated Surveillance, Legal Affairs and Regulatory Policy, Commodities Derivatives, Enforcement and Litigation. He was part of Chief Justice N. K. Sodhi Committee to formulate Insider Trading regulations and assisted in investigating the IPO Scam (Roopalben Panchal Scam) and SATYAM Scam. He also played a key role in formulating norms for tackling frauds and unfair trade practices, registration of intermediaries, disclosures in public issues, rejection of offer documents, merger of erstwhile Forward Markets Commission (FMC) with SEBI and defended SEBI’s power to seek telephone call records.
Sumit had also assisted SEBI, MCA and Ministry of Finance, Govt. of India, in bringing parliamentary amendments to securities laws, in addition to handling inter-regulatory issues or coordinating with foreign regulators such as US SEC, ASIC and UK FSA (now FCA).
Sumit was recently awarded by India Business Law Journal by adding him in the list of 50 up-and-coming lawyers as Future Legal Leaders of India. As a legal and regulatory expert, Sumit is often quoted in print, electronic and digital media.