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<h1>Amendment to Section 15J of SEBI Act expands penalty factors and adjudication roles, includes sections 11 and 11B.</h1> Section 15J of the Securities and Exchange Board of India Act, 1992, as amended by the Finance Act, 2018, modifies the factors considered in determining penalty amounts. The amendment changes the marginal heading to 'Factors to be taken into account while adjudging quantum of penalty.' It also expands the scope by substituting references to include sections 11 and 11B, allowing both the Board and adjudicating officers to be involved in the adjudication process. Additionally, the term 'of an adjudicating officer' is removed from the Explanation within the section.