India News | Claims of Unprofessional Work Culture at Regulator Misplaced: Sebi

New Delhi, Sep 4 (PTI) Amid reports of "toxic work culture" at Sebi, the capital markets regulator on Wednesday termed the claims of unprofessional work culture "misplaced".

It further said that HRA issues of staff are misguided by external elements.

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The statement came in the backdrop of media reports suggesting that employees of the Securities and Exchange Board of India (Sebi) had written a letter to the government on August 6, raising concerns over toxic work culture.

"The claims of unprofessional work culture in the letter dated August 6, 2024, are misplaced," Sebi said in a statement.

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The regulator suspects that junior officers have been receiving messages from outside parties encouraging them to "go to the media, the Ministry, or the Board," possibly for the outsiders' own agendas.

"Sebi apprehends that the junior officers have been receiving messages from external elements outside their group, effectively instigating them to 'go to media, go to the Ministry, go to Board', perhaps to serve their own purpose. In fact, the letter of August 06, 2024, was not sent by the Sebi employee associations to the Government (and a section of the media)," the statement noted.

It was an anonymous email that was sent, and officers and associations have themselves condemned it and communicated the same to HRD through emails, the regulator said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)