Mumbai, March 24 -- India's market regulator has tightened conflict-of-interest rules, bringing its top leadership under a stricter disclosure and investment regime amid heightened scrutiny of governance standards.

The board of the Securities and Exchange Board of India (Sebi) on Monday approved a sweeping set of regulations based on recommendations of a high-level committee (HLC), aligning rules for senior officials with those applicable to employees and plugging gaps in transparency, recusals and personal investments.

Mint explains the new rules and whether they are enough to ensure accountability in Sebi's top brass.

Sebi has introduced a tighter disclosure and recusal framework. The chairman, whole-time members (WTMs) and employees...