The High-Level Committee (HLC) constituted by the Securities and Exchange Board of India (Sebi) to review conflicts of interest, investment and liabilities of its board members, has put forward 10 recommendations, including a multi-tier disclosure regime, investment restrictions, strong recusal framework, and a robust whistle-blower mechanism.

The six-member HLC committee, set up in March this year, proposed that the chairman, whole-time members (WTMs) and Sebi employees at the level of chief general manager (CGM) and above should be required to make a public disclosure of assets and liabilities.

A disclosure should be made internally by all Sebi employees, the Chairman, and all Board members in respect of the name and relationship of relatives as defined in the Companies Act, 2013 as we

See Full Page