The Securities and Exchange Board of India is on the lookout for the chief executive officer of the Central Listing Authority, the newly established body that will vet applications for listing securities on the stock exchanges.

The CEO would work closely with CLA's 11-member board, headed by Justice M N Venkatchaliah, for developing the policies and guidelines, a Sebi release said on Tuesday.

The authority was expected to set, enforce and continuously upgrade the disclosure and listing standards for the healthy development of the capital markets, it said.

It would encourage the new issuances and listing of securities in a time-bound manner. It would also make efforts to prevent undeserving persons from tapping the public resources and listing securities, which are detrimental to the interest of investors, it said.