Mumbai, Nov. 12 -- The high-level committee constituted by the Securities and Exchange Board of India (SEBI) has recommended a comprehensive overhaul of the market regulator's ethics and conflict-of-interest framework to enhance transparency, accountability, and governance standards.

The High-Level Committee (HLC), chaired by former Chief Vigilance Commissioner Pratyush Sinha, has proposed a shift from a voluntary code of conduct to a legally enforceable framework, bringing SEBI's governance practices closer to international regulatory standards.

"The recommendations for SEBI Board Members may be implemented by notifying a separate set of Regulations for SEBI Board Members for Disclosures and Management of Conflict of Interest. This wou...