Sebi to discuss panel’s conflict of interest report next month
Nov 15, 2025
Synopsis
The Securities and Exchange Board of India is set to evaluate a crucial report regarding conflict of interest regulations for its top executives. Recommendations from a specialized panel include enhanced disclosure requirements and fostering a more stringent ethical culture to tackle prevailing concerns. Moreover, the regulator is dedicated to boosting investor engagement in the securities market.
The Securities and Exchange Board of India (Sebi) chairman Tuhin Kanta Pandey on Friday said it will deliberate on an expert panel's recommendations on disclosure and conflict of interest regulations governing its top officials in the next board meeting on December 17.
Earlier this week, a Sebi panel under former chief vigilance commissioner Pratyush Sinha proposed greater disclosure and a “zero-tolerance” culture to address conflict of interest pertaining to senior officials of the capital markets regulator.
The Committee on Conflict of Interest, Disclosures and Related Matters called for public disclosure of their assets and liabilities by the Sebi chairman, whole time members, and chief general manager rank officers.
The regulator set up the panel in March after Tuhin Kanta Pandey took over as its chairman.
The review followed growing scrutiny of governance norms at the regulator following conflict-of-interest allegations against former Sebi chairperson Madhabi Puri Buch.
The US-based short-seller Hindenburg Research had alleged that Buch and her husband had held undisclosed offshore investments, which they refuted.
Investor participation
The Sebi panel also recommended introducing a secure and anonymous whistleblower system for reporting conflict of interest, a ban on expensive gifts, a two-year restriction on post-retirement assignments, and creating a post of chief ethics and compliance officer.
Citing a report, Pandey said about 63% of people are aware of the securities market in India but only over 9% are investing. The capital markets regulator is taking steps to bridge this gap.
Pandey was speaking in New Delhi where he inaugurated a pavilion titled ‘Bharat Ka Share Bazaar’ at the 44th India International Trade Fair 2025, being held from November 14 to 27.
The pavilion was set up by Sebi in association with the BSE, National Stock Exchange, Central Depository Services, National Securities Depository, Association of Mutual Funds in India, National Institute of Securities Markets, commodity exchanges such as NCDEX and MCX, CAMS and KFin Technologies. The aim is to promote financial literacy and investor awareness.
“The pavilion showcases Sebi’s continuous efforts toward investor protection and market integrity while making financial education interactive and experiential,” Sebi said in a statement.
[The Economic Times]
