Sebi chair Buch traded in listed stocks, violating conflict-of-interest policy, alleges Congress
Sebi chairperson Madhabi Puri Buch has traded in listed securities worth about Rs 37 crore during her tenure at the regulatory body, violating its conflict-of-interest policy, Congress alleged on Saturday in a fresh salvo against her.
The country's main opposition party also accused Buch of making investments abroad including in Chinese funds.
Congress spokesperson Pawan Khera alleged that Buch traded stocks between fiscal years 2018 and 2023, with the highest value of transactions totalling around Rs 20 crore recorded in fiscal 2019. Section 6 of Sebi code prohibits a board member including the chair from dealing in listed securities when in possession of unpublished price-sensitive information.
«Considering the position she holds, she has access to all sorts of information in the securities market,» Khera said. «How could she trade in them?»
Buch joined Sebi in April 2017 as a whole-time member before becoming its chair in March 2022.
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