SEBI to revise conflict of interest rules for board members

The Securities and Exchange Board of India (SEBI) plans to form a committee to update rules about conflicts of interest for its board members. This move aims to improve transparency within the organization. New SEBI Chairman Tuhin Kanta Pandey mentioned the importance of revealing any conflicts of interest. He stressed that building and maintaining trust with stakeholders is crucial. The new plan will include public disclosures regarding board members' assets, such as property. In addition to the conflict of interest updates, SEBI is changing rules for startup founders. This change will allow them to keep their Employee Stock Option Plans (ESOPs) even after going public. This decision helps founders, who often rely on ESOPs instead of salaries during the early stages of their companies. SEBI has also partnered with DigiLocker. This initiative will help investors track their securities holdings and reduce unclaimed financial assets. The goal is to enhance investor protection and make it easier to access financial information.