INDUSTRY
SEBI panel to review conflict of interest norms for its board members, officials
- IBJ Bureau
- Mar 25, 2025
The Securities and Exchange Board of India (SEBI) on Monday announced its decision to establish a high-level committee to conduct a detailed review of conflict of interest and disclosure norms related to property, investments and liabilities of SEBI board members and officials.
The committee is tasked with submitting its recommendations within three months of its formation. These recommendations will be presented to the SEBI board for consideration.
The committee will include individuals with expertise and experience in areas such as constitutional or statutory bodies, regulatory institutions, government or public sector roles, private sector and academia.
The markets regulator, in its first board meeting under new SEBI Chairman Tuhin Kanta Pandey, also announced to double the threshold for disclosure of equity assets under management (AUM) in the domestic market for foreign portfolio investors (FPIs) to Rs 50,000 crore from Rs 25,000 crore earlier.
The announcement comes months after the regulator’s former chairman, Madhabi Puri Buch, had come under attack from US-based short-seller Hindenburg Research, which has now shut down, for having conflict of interest. Hindenburg had alleged that Ms Buch and her husband, Dhaval Buch, “had stake in obscure offshore entities used in the Adani money siphoning scandal”. The Buchs had denied the allegation.
“Cash equity market trading volumes have more than doubled between FY2022-23 (when these limits were set) and the current FY2024-25. In light of this, the board approved a proposal to increase the applicable threshold from the present Rs 25,000 crore to Rs 50,000 crore,” the SEBI said.
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