SEBI Launches High-Level Committee for Conflict of Interest Review

SEBI's new head, Tuhin Kanta Pandey, is forming a committee to update conflict of interest and disclosure norms for board members and officials. This comes after former head Madhabi Puri Buch faced accusations of bias in investigations against the Adani Group. The committee will examine transparency and accountability improvements.

The Securities and Exchange Board of India (SEBI) has announced the creation of a high-level committee to review its conflict of interest and disclosure norms, a move initiated under new chairman Tuhin Kanta Pandey. This decision aims to enhance transparency and accountability among SEBI's board members and officials, in light of recent controversies.

The need for this review became apparent after SEBI's former chief, Madhabi Puri Buch, was accused of withholding investigations into the Adani Group due to personal conflicts of interest. These allegations came from now-defunct Hindenburg Research, which claimed undisclosed ties involving Buch's family and the Adani conglomerate. Both Buch and Adani have denied all allegations.

Pandey emphasized the importance of trust and transparency and is committed to convening an independent committee, supported by SEBI, to tackle these issues. The body, which will include experts from various sectors, is expected to deliver its findings within three months, aiming to reinforce SEBI's integrity and operational standards.

(With inputs from agencies.)