Sebi employees stage protest outside Mumbai office against ‘toxic’ work culture

Sebi employees protest: The employees of the Securities and Exchange Board of India held a protest outside the Mumbai office premises on Thursday, against the rebuttal of the market regulator regarding employees’ ‘toxic’ work culture complaints, according to media reports.  

The market regulator said on Wednesday that claims of an unprofessional work culture at its offices were "misplaced", responding to reports in the local media earlier in the day.

In a letter to the federal finance ministry last month, some employees of the Securities and Exchange Board of India (SEBI) said that there was "immense pressure" at the regulator, resulting in a "stressful and toxic work environment".

The letter reported by Indian newspaper Economic Times has been reviewed by Reuters.

In a press statement, SEBI said the claims stemmed from demand of higher rental allowance and attempts to stop misreporting of targets achieved and delays in taking decisions.

Some "outside elements" instigated its employees to believe that they should not be required to have high standards of performance and accountability, SEBI said in the statement, without disclosing any details about the elements.