Overview
- The High-Level Committee submitted its final report to Chairman Tuhin Kanta Pandey on November 10, proposing a shift from voluntary codes to legally enforceable regulations for board members.
- The panel calls for public asset and liability disclosures by the chair, whole-time members and chief general managers and above, with internal multi-stage disclosures required across SEBI staff and board.
- It recommends creating an Office of Ethics and Compliance led by a Chief Ethics and Compliance Officer and an independent Oversight Committee, supported by a digital registry for conflict monitoring.
- Uniform investment and insider rules would apply to the chair and whole-time members, including treatment as insiders, options to manage pre-existing holdings and a 25% cap on exposure to any single pooled scheme.
- The package strengthens deterrence through a formal recusal framework with published summaries, an anonymous whistleblower channel, a ban on gifts tied to official dealings and a two-year bar on appearing in matters before SEBI.