Sebi has satisfactory mechanisms to deal with conflicts of curiosity: MoS for finance
In a written reply within the Rajya Sabha, minister of state for finance Pankaj Chaudhary mentioned the Sebi board has adopted a code on conflicts of curiosity for its board members and the chairperson.
That is geared toward guaranteeing that “the board conducts itself in a way that doesn’t compromise its capability to perform its mandate or undermine the general public confidence within the capability of member(s) to discharge duties”, he added.
Chaudhary was responding to questions by Congress leaders Mallikarjun Kharge and Ranjeet Ranjan on steps being taken by the federal government to make sure transparency and accountability within the declarations of monetary belongings and potential conflicts of curiosity by Sebi chairperson and senior officers, amongst others.
In September, the Congress had questioned funds to Sebi Chairperson Madhabi Puri Buch made by her former employer ICICI Financial institution. Buch has additionally confronted the battle of curiosity accusations over the regulator’s inquiry into Adani Group entities. Buch has refuted any wrongdoing, as has ICICI Financial institution.
Within the reply, Chaudhary additionally mentioned Sebi staff are ruled by the Sebi (Workers’ Service) Rules, 2001 that guarantee transparency and accountability in declaration of monetary belongings and deal with potential conflicts of curiosity.
