Sebi seeks overhaul of rules on transparency and conflicts for senior officers

NEW DELHI, Nov 12: A Sebi panel has proposed sweeping reforms to enhance transparency and curb conflicts of interest among the regulator’s top officials.
Recommendations include public disclosure of assets, liabilities, and potential conflicts by the chairman, whole-time members, and senior officers; a secure and anonymous whistleblower system; a ban on expensive gifts; and a two-year post-retirement cooling-off period.
The panel also suggested creating a Chief Ethics and Compliance Officer, ethics training programs, uniform investment restrictions covering spouses and dependents, and legally enforceable regulations for board members.
The move comes after allegations against former chairperson Madhabi Puri Buch over potential conflicts of interest in the Adani case.
The reforms aim to strengthen public trust, align with global best practices, and reinforce Sebi’s independence and integrity. (PTI)