Mumbai: The Securities and Exchange Board of India (SEBI) will set up a committee to review provisions for its members to disclose conflicts of interest, months after the capital markets regulator’s former head was accused of holding back on investigations against the Adani group because of a conflict of interest.
SEBI in its first meeting under new chairman Tuhin Kanta Pandey on Monday, decided to set up a high-level committee to conduct a detailed review of conflict of interest and disclosure norms related to property, investments, and liabilities of board members and officials.
The panel 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, Pandey said, adding names of members of the committee will be announced in due course.
The committee will conduct a comprehensive review of existing regulations on conflict of interest, covering property, investments, and liabilities of board members, according to a statement, adding that it will consist of experts with experience in constitutional, statutory, and regulatory bodies, as well as government, public and private sectors, and academia.
SEBI will announce the names of the committee members in due course. The primary objective of the HLC is to strengthen SEBI’s framework for managing conflicts of interest, ensuring transparency, accountability, and ethical conduct. The committee will submit its recommendations within three months from its formation, after which the board will consider them. Separately, in the board meeting, SEBI
