In a landmark step towards strengthening ethical governance and transparency in India’s capital markets regulator, a high-level committee (HLC) on 'conflict of interest, disclosures and related matters' has recommended a comprehensive revamp of the Securities and Exchange Board of India’s (SEBI) framework governing its members and employees. The HLC has proposed a uniform, legally enforceable conflict-of-interest framework for SEBI’s chairperson, whole-time members (WTMs) and employees, with public disclosure of assets, uniform investment and insider trading restrictions and AI-driven systems to detect and manage ethical conflicts. It also recommended a whistle-blower mechanism for all stakeholders, mandatory ethics training linked to performance reviews, annual publication of recusal summ

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