Will disclose conflict of interests of Sebi board members: Chairman

Underscoring the importance of trust and transparency, new Sebi chief Tuhin Kanta Pandey on Friday said proper disclosures are important and promised that Sebi will now onwards reveal conflict of interests of its employees in general and that of the board members in particular. The statement, the first since Pandey assumed office last Saturday, assumes importance as his predecessor Madabhi Puri-Buch’s final months got mired in a litany of controversies, including that of conflict of interests and alleged favouritism to some companies where her husband Dhaval had commercial relationships and of lack of disclosures about her private investments and other income. Accordingly, we’ll be coming out with our own plans to further transparently reveal conflict of interests, if any, to the public,” Pandey said at a Moneycontrol- roganised event here on Friday. “When I say teamwork, it not only includes the teamwork within Sebi but also with various participants, investor bodies, the market participants, market infrastructure institutions,” he said.