ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATESecurities and Exchange Board of India (Intermediaries) Regulations, 2008
ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATESecurities and Exchange Board of India (Intermediaries) Regulations, 2008
Procedure for intermediary proceedings: officer to obtain written submissions and recommend regulatory action to the Chairman or member. The Chairman or member may appoint a senior Board officer to seek written submissions from an intermediary and obtain a reasoned recommendation; the ... Summary
Procedure for intermediary proceedings: officer to obtain written submissions and recommend regulatory action to the Chairman or member.
The Chairman or member may appoint a senior Board officer to seek written submissions from an intermediary and obtain a reasoned recommendation; the officer must issue a notice requiring a written reply within a specified period, may extend time for reasons, and must submit a reasoned report recommending appropriate regulatory action whether or not a submission is received. The Chairman or member shall then pass orders as deemed appropriate and may issue a common order for multiple intermediaries where the subject matter is substantially similar.
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