SEBI’s new chairperson Tuhin Kanta Pandey has announced plans to enhance transparency within the regulator by disclosing any conflicts of interest among its board members to build trust. This move comes after criticism faced by his predecessor Madhabi Puri Buch, with allegations of conflicts of interest in investigations related to the Adani group.
During his first address at the Moneycontrol Global Wealth Summit, Pandey emphasized the importance of trust and transparency in instilling confidence in investors. He mentioned that SEBI will unveil its own strategy to transparently reveal conflicts of interest to the public.
Pandey highlighted the need to create an inclusive environment for foreign capital and expressed willingness to engage with portfolio investors and alternative investment funds to address their concerns and streamline regulations. He stressed the importance of teamwork, transparency, and technology within SEBI and with market participants.
The new SEBI chief also reiterated the regulator’s focus on the four Ts – trust, transparency, teamwork, and technology. He emphasized the significance of collaboration with all stakeholders to encourage voluntary compliance. Pandey stated that SEBI’s focus is on optimum regulation rather than maximum regulation, and emphasized the importance of ease of doing business for market participants.
Overall, the new leadership at SEBI aims to enhance transparency, build trust, and create a conducive environment for sustainable growth, both domestically and internationally.
