Sebi Board okays conflict of interest code for officials; eases exit norms for AIFs

THE Securities and Exchange Board (Sebi) Board, which met here on Monday, approved a revised code of conduct to govern the issues of conflicts of interest for its whole-time members (WTMs) and other senior officials, while referring certain critical provisions to the government for consideration.

- ENS ECONOMIC BUREAU @ Mumbai

The Board has also announced a slew of other decisions such as allowing alternative investment funds (AIFs) greater flexibility in exit norms, more freedom to handle residual assets and liabilities after the end of their tenure; permitting net settlement of funds for transactions done by FPIs in cash market and also relaxing investment norms for Invits and Reits.