SEBI's board on December 17 postponed a proposal for senior officials to disclose their financial assets and liabilities to an independent officer at the regulator.
"Relating to the high level committee on conflict of interest, the board deliberated on this matter, and it's an acknowledged that there is a comprehensive review, which has been carried out and expressed that we need to have a detailed discussion on the recommendations in the ensuing meeting, keeping in view public and media comments, certain concerns expressed by employees," said SEBI Chairman Tuhin Kanta Pandey at a press conference.
"There is broad agreement on implementing an automated framework to improve the process. Public disclosure of certain employees’ assets and liabilities has been suggested, which raises privacy concerns.
"Internally, the required information is already being collected and monitored, though the processes could be improved.
"A distinction exists between movable and immovable assets, as well as liquid versus non-liquid assets, and this must be balanced with transparency requirements," added Pandey.
In November 2025, Moneycontrol had reported that a high-level committee on conflict of interest, disclosures and related matters has submitted its recommendations to the Securities and Exchange Board of India (SEBI) chairman, proposing a wide-ranging revamp of the regulator’s ethics and disclosure framework for its members and officials. The committee, headed by former Chief Vigilance Commissioner Pratyush Sinha, suggested that applicants for the posts of SEBI chairman, whole-time member and lateral entry roles should disclose all actual, potential and perceived financial and non-financial conflicts of interest to the appointing authority, ensuring that decision-makers are screened for competing interests before taking office.
It had also recommended that the chairman, whole-time members and SEBI employees at the level of chief general manager and above be required to make public disclosures of their assets and liabilities, including investments, bank accounts, and owned properties, to increase transparency. In addition, the panel had called for a strengthened internal ethics code with clear recusal and cooling-off norms, uniform trading restrictions for SEBI officials, and an enhanced whistle-blower mechanism to ensure timely reporting and resolution of potential breaches.
(This is a developing story)
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