During the 25th ICSI National Awards, Pandey highlighted that as participation in the stock market increases, so do expectations for fairness, excellent governance, and reliable oversight.
“While markets can bear business risks, they find governance uncertainty challenging. As the market grows, even minor governance failures can lead to significant repercussions,” Pandey stated.
Discussions surrounding corporate governance in listed companies often focus on regulations, board make-up, committee frameworks, and transparency.
However, at its essence, governance transcends procedural adherence; it revolves around credibility in decision-making, conflict resolution, and the communication of information to investors, he noted.
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Pandey indicated that in the future, the responsibilities of company secretaries in listed companies will not only increase in compliance volume but also in the depth of their duties.
“Capital markets will evolve to be more intricate, investors will demand greater accountability, information will disseminate more rapidly, and reputational risks will arise quicker than before. In this landscape, governance must be proactive. The future is for those professionals who can foresee risks, navigate boards through uncertainties, and maintain institutional integrity, despite pressures,” the SEBI chief asserted.
Pandey remarked that when markets operate seamlessly, governance often goes unnoticed, but its absence becomes evident to investors, regulators, and at times, the wider economy when it fails.
