New Delhi, April 6 (IANS) The Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Monday said that escalating tensions in West Asia are disrupting global energy flows, putting pressure on oil and gas supplies and triggering sharp price volatility.

In his address at the 19th CII Corporate Governance Summit, he cautioned that the ongoing conflict could have far-reaching implications for the global economy.

Pandey said the current crisis adds to a series of shocks that businesses and regulators have faced in recent years, including the Covid-19 pandemic and rapid technological disruptions such as artificial intelligence (AI), which have tested institutional resilience.

Highlighting regulatory developments, the SEBI chief said the framework has evolved in a calibrated manner, strengthening disclosure norms through periodic and event-based requirements, introducing clear materiality thresholds and timelines, and enhancing board independence and oversight.

He added that accountability mechanisms such as secretarial audits and a stronger role for compliance officers have further reinforced governance standards.

On corporate governance, Pandey stated that the focus must now shift from board composition to the quality of boardroom engagement and decision-making.

He underscored the critical role of independent directors and stressed the need for continuous capacity building through structured learning and stronger knowledge frameworks.

Pandey also called for a shift from periodic reviews to continuous oversight, saying institutional capability will be key to improving governance outcomes.

Meanwhile, CII Director General Chandrajit Banerjee said the government and the Reserve Bank of India (RBI) have responded swiftly to the evolving situation, helping stabilise market sentiment.

However, he noted that supply-side pressures in energy, logistics and trade continue to persist, with sectors such as MSMEs, exporters and energy-intensive industries still facing operational and financial stress.

Banerjee added that the next phase of policy response may need to focus on targeted liquidity support, credit facilitation and measures to ensure foreign exchange stability.

–IANS

ag/na