Sebi mulls stricter disclosure rules for billionaire family offices

The Securities and Exchange Board of India (Sebi) has begun discussions on bringing family offices under its oversight, as the nation’s billionaires become a growing force on exchanges, according to people familiar with the matter.

- BLOOMBERG

The discussions include asking family offices to disclose their entities, assets and investment returns for the first time, as well as a separate category to regulate the investment vehicles, said the people who asked not to be identified discussing private information. Sebi wants more visibility into how sprawling family-run conglomerates invest in publicly traded securities and the potential risks, said the people. The watchdog held meetings with some of the nation’s biggest family offices earlier this year, and asked for written submissions from others, the people said. The final shape and timing of the new rules are unclear, the people said. There is no specific regulation for family offices in India currently.