Overview
- The high-level committee submitted its report to Chairman Tuhin Kanta Pandey on November 10, with its recommendations made public on November 12 and now awaiting SEBI consideration.
- Public asset and liability disclosures are proposed for the chairperson, whole-time members, and officials at chief general manager rank and above, with all staff and board members making initial, annual, event-based, and exit disclosures internally.
- Part-time board members would be exempt from public disclosure requirements, though they must still file internal declarations of relevant interests.
- The plan creates an Office of Ethics and Compliance and an independent Oversight Committee, introduces a tech-enabled recusal system, and calls for publishing annual summaries of recusals by senior officials.
- Uniform investment restrictions would extend to the chair and WTMs, who would be treated as insiders, permitted to invest in regulated pooled vehicles subject to a cap, required to choose from defined options for existing holdings, and bound by a gift ban, pre-appointment conflict declarations, a whistle-blower channel, and a two-year post-retirement bar on appearances before SEBI.