Congress Alleges SEBI Chief Traded Securities, Invested In Chinese Funds, Demands PM's Response

On September 14, 2024, the Congress Party intensified its criticism of SEBI Chairperson Madhabi Puri Buch, accusing her of violating conflict of interest rules by trading in listed securities while serving in her role. Congress spokesperson Pawan Khera alleged that Buch traded securities worth ₹36.9 crore between 2017 and 2023, with ₹19.54 crore of transactions occurring in the fiscal year 2018-19 alone. Khera further accused Buch of investing in foreign funds, including Chinese investments, such as the Global X MSCI China Consumer Fund and Invesco China Technology ETF. He questioned whether Buch declared these foreign assets and whether any government agencies were informed. The Congress has demanded answers from Prime Minister Narendra Modi regarding Buch’s alleged trading activities and foreign investments, particularly amidst India's ongoing tensions with China. Khera asked whether the PM was aware of Buch's involvement in trading while potentially holding Unpublished Price Sensitive Information and her investments in Chinese firms, raising concerns over conflicts of interest and transparency.