Mumbai/New Delhi, March 07 (HS): New Securities and Exchange Board of India (SEBI) chairman Tuhin Kanta Pandey on Friday promised to bring a system in which it will be necessary for SEBI board members to tell the public about the conflict of interest. Pandey has stressed the need for transparency regarding the conflict of interest within the SEBI board. Therefore, the capital market regulator will now disclose the conflict of interest of its employees.

In his first public address after assuming the post of SEBI chief, the SEBI chairman said that it is necessary to do so from the perspective of transparency. He said that both domestic and foreign capital is needed to maintain the pace of growth.

The SEBI chief said that such steps will help SEBI gain the trust of the entire environment. He said, We will come up with our own plan to expose conflict of interest etc. to the public with more transparency.

Pandey said, I think the issue of trust and transparency also extends to SEBI. We not only have to build the trust of all stakeholders on us, but also maintain that trust. Amid concerns over the increasing withdrawal of foreign institutional investors (FIIs) from the Indian stock market, the SEBI chief said that the regulator is making the rules governing their operations more rational.

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Hindusthan Samachar / Jun Sarkar