MUMBAI: Pratyush Sinha, a former chief vigilance officer and retired IAS officer, has been appointed to lead Sebi’s high-level committee (HLC) focusing on conflict of interest, disclosures and associated matters concerning the regulatory body’s members and officials. The other members of the committee include Injeti Srinivas, Uday Kotak, G Mahalingam, Sarit Jafa, and R Narayanaswamy, a Sebi release said.
Sebi in its March 24 board meeting had approved the constitution of a committee that will conduct a thorough assessment of regulations regarding conflict of interest, declarations of property, investments, liabilities, and associated matters pertaining to the regulator’s board members and officials.
The HLC will review Sebi’s existing policies and frameworks governing conflict of interest, disclosures and related matters and identify any gaps or ambiguities, the release said. It will also recommend a robust framework for preventing, mitigating and managing conflict of interest including a recusal policy, disclosure requirements covering public disclosures, provisions pertaining to restriction on investments, maintenance of digital records and framework for monitoring, etc.
The HLC will also recommend a mechanism for members of the public to raise concerns pertaining to conflict of interest and disclosures including process to examine complaints. The panel will also have the freedom to look into any other related matter “as considered appropriate”, the release said. “The committee is required to present its recommendations within three months of its formation, after which these will be submitted to the board for evaluation,” the release added.