ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATE - Securities and Exchange Board of India (Intermediaries) Regulations, 2008
ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATE - Securities and Exchange Board of India (Intermediaries) Regulations, 2008
Regulation 32 - Effect of debarment, suspension, cancellation or surrender
Securities and Exchange Board of India (Intermediaries) Regulations, 2008 Chapter V ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATE
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Debarment and suspension of registration restrict intermediaries from new assignments and require client transfers without cost. Regulation 32 requires that upon debarment or suspension an intermediary cease the certified activity, not accept new assignments, allow clients or ... Summary
Debarment and suspension of registration restrict intermediaries from new assignments and require client transfers without cost.
Regulation 32 requires that upon debarment or suspension an intermediary cease the certified activity, not accept new assignments, allow clients or investors to withdraw or transfer securities or funds without additional cost, make provisions for liabilities, and take required actions regarding records, documents and investor assets as mandated by the regulations or directed by the Board; upon surrender or cancellation it must return the certificate, cease representation as a certificate holder, transfer activities to a valid holder where applicable, permit client withdrawals or transfers without cost, make liability provisions, and comply with directions about custody and records.
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