Sebi Forms Committee to Review Conflict of Interest

Mumbai, Mar 24 (PTI) Markets regulator Sebi on Monday decided to set up a high-level committee to undertake a comprehensive review of conflict of interest, disclosures pertaining to property, investments and liabilities of members and officials on the board.

The high-level committee, which is expected to submit its recommendation within three months from the date of the constitution, will be placed before the board of consideration.

The committee will comprise eminent persons and experts with relevant backgrounds and experience in constitutional or statutory or regulatory bodies, government/ public sector, private sector and academia.

The names of the committee members will be announced in due course, newly appointed Sebi Chairperson Tuhin Kanta Pandey told reporters after the board meeting here.

"The objective of the high-level committee is to comprehensively review and make recommendations for enhancing the existing framework for managing conflict of interest, disclosures and related matters towards ensuring the high standard of transparency, accountability and ethical conduct of members and officials of the board," he added.

The move came against the backdrop of allegations of conflict of interest against former Sebi chief Madhabi Puri Buch by Hindenburg Research in the Adani issue.