Why in news
According to public documents reviewed by Reuters, SEBI chief Madhabi Puri Buch breached the rules for regulatory officials
The policy breach
SEBI chief Madhabi Puri Buch continued to earn money from her consultancy firm, Agora Advisory, during her tenure at SEBI.
This continued revenue may violate SEBI's 2008 policy that prohibits officials from holding other professional positions or receiving fees from external activities.
Documents reviewed show that Agora Advisory earned ₹37.1 million during Buch's time at SEBI, raising concerns about her compliance with regulations.
Buch stated that she disclosed her consultancy firms to SEBI and claimed that her involvement was only until her husband took over the business.
Despite her role at SEBI, Buch still holds shares in the consulting firm according to the latest records.
Also, Buch has not provided details on whether she received a waiver to keep her shareholding in the consultancy firm.
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