McKinsey will advise Securities and Exchange Board of India (SEBI)on four internal areas — organisational structure, HR, reprioritise areas of focus and technology. 
 
 Besides this, the consultant will also advise on two external areas, which include sharing of regulation and oversight with self-regulatory organisations and co-operation with external agencies. 
 
 SEBI chose McKinsey to help it ‘restructure' itself. SEBI called for bids to appoint a business and strategic management consultant in mid-January.
 
 Marketmen said regulator should not have included areas of focus, interface with self regulatory organisations and cooperation with external agencies in its brief.
 
 They added, “Being only 20-year old as a regulator, it is trying to obtain third party view on focus and exact demarcation of responsibilities with SROs so that others do not object using the vested interest plank.