Penalty for non compliance with SEBI rules imposes enhanced monetary sanctions and disgorgement for exchanges and clearing corporations. A new provision makes a stock exchange or clearing corporation liable to penalty where it fails to conduct business with members, issuers, agents, or market participants in accordance with SEBI rules, regulations and directions. The provision prescribes an enhanced monetary sanction framework combining a minimum statutory sanction, a higher statutory cap, and an alternate disgorgement based multiplier tied to gains from the failure, with the payable amount determined by whichever is higher.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty for non compliance with SEBI rules imposes enhanced monetary sanctions and disgorgement for exchanges and clearing corporations.
A new provision makes a stock exchange or clearing corporation liable to penalty where it fails to conduct business with members, issuers, agents, or market participants in accordance with SEBI rules, regulations and directions. The provision prescribes an enhanced monetary sanction framework combining a minimum statutory sanction, a higher statutory cap, and an alternate disgorgement based multiplier tied to gains from the failure, with the payable amount determined by whichever is higher.
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