Sebi brass may have to make assets public

PANEL PROPOSES CHANGES TO BOOST TRANSPARENCY

- ANANYA GROVER

A HIGH-LEVEL committee of the Securities and Exchange Board of India (Sebi), which is working on a new conflict of interest code, is pushing for sweeping changes to ensure transparency in the organisation through board oversight, sources close to the development said.

The panel's recommendations include public disclosure of assets held by board members, aligning employee service regulations for part-time and whole-time board members (WTM), along with capacity building in terms of employee training.

The committee, formed in April, had met last Friday to discuss their proposals with the chairman and received a positive feedback. The sources said that the report is expected to be released in October.

The committee is headed by Pratyush Sinha (chairman) and other members include Injeti Srinivas (vice-chairman), Uday Kotak, G Mahalingam, Sarit Jafa and R Narayanaswamy.