Sebi's Vigilance Under Scrutiny: Former Chief Sinha Leads Conflict of Interest Probe

A committee, headed by ex-Chief Vigilance Commissioner Pratyush Sinha, submitted a report to Sebi addressing conflicts of interest among its officials. This follows allegations against former Sebi Chairperson Madhabi Puri Buch. The report examines current conflict of interest policies and suggests new mechanisms for public complaints and prevention measures.

A high-level committee chaired by former Chief Vigilance Commissioner Pratyush Sinha has handed over a crucial report on conflict of interest and disclosure practices among Sebi officials to market regulator Sebi as of Monday.

The initiative comes after accusations aimed at former Sebi Chairperson Madhabi Puri Buch, and centers on a comprehensive review of current guidelines alongside suggestions for new complaint mechanisms and preventive frameworks.

In a recent meeting, the Sebi board decided on forming the committee to identify ambiguities in existing measures and ensure robust frameworks for managing conflicts. Allegations had previously stalled investigations, but the new report aims to establish clarity and transparency.

(With inputs from agencies.)