The market regulator, Securities and Exchange Board of India may soon form a high level committee to work on updating framework of conflict of interest for its board members, people in the know told NDTV Profit.
The committee is likely to form, update and relook at the framework for conflict of interest and asking members to make disclosures like movable or immovable property and other assets, one of the persons quoted above said.
While the development is likely to take place soon, one of the sources told NDTV Profit that the recommendation to form such a committee may also be taken up in the SEBI board meeting on Monday. Thereafter, the committee members would be appointed on a later date, they said.
Queries e-mailed to SEBI in the matter remained unreplied at the time of publishing this story.
On March 7, the newly appointed SEBI Chairperson Tuhin Kanta Pandey mentioned while speaking at a Mumbai event that the regulator will reveal any conflict of interests of its board members.
Pandey, who was serving as the finance and revenue secretary, was recently named as the chief of SEBI for a three-year term.
A 1987-batch IAS officer of Odisha cadre, Pandey has held several key positions in the government. He has served as the secretary of Department of Investment and Public Asset Management, Department of Public Enterprises and the Department of Personnel and Training. He oversaw critical reforms, including the privatisation of Air India and the public listing of Life Insurance Corporation of India.
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