SEBI Panel For Sweeping Reforms In Disclosure, Conflict Of Interest Rules For Chairman, Senior Officers

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A SEBI panel has proposed comprehensive reforms to bring in transparency by way of greater disclosure and a 'zero-tolerance' culture to address conflict of interest with regard to top officials of the capital market regulator.

The high-level panel in its report to SEBI Chairman Tuhin Kanta Pandey has also recommended setting up a secure and anonymous whistleblower system for reporting conflict of interest, ban on expensive gifts, a two-year restriction on post-retirement assignments, and creating a post of Chief Ethics and Compliance Officer (CECO).

The Committee on Conflict of Interest, Disclosures and Related Matters said Sebi Chairman, whole time members, a