SEBI commits to internal resolution of employee protest issues

The Securities and Exchange Board of India (SEBI), has on September 16 issued  a statement on its employees protest, acknowledging their “critical role” and said that the issue will be managed internally as per the organisations “high standards of governance and within a time-bound manner”.
“SEBI believes that its employees have played a critical role over the past thirty-six years in shaping the Indian securities market into one of the most dynamic and well- regulated markets globally,” the statement read.
“SEBI addresses employee-related matters through appropriate internal mechanisms. Following constructive discussions with representatives of all grades of officers, SEBI and its employees have reaffirmed that such issues are strictly internal and will be managed in accordance with the organization’s high standards of governance and within a time-bound framework,” it added.
Further, the regulator said that an earlier released issued on September 4, “stands withdrawn”, adding, “Employees have strongly condemned the unauthorized release of internal communication and have confirmed that all concerns shall be addressed amicably through established internal channels.”
 
This is a breaking story, more updates are awaited…