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of <h1>SEBI 2018 Regulations Detail Settlement Terms for Regulatory Violations with Factors Like PCF, RAF, and IA Adjustments.</h1> The Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, outlines guidelines for determining settlement terms in cases of regulatory violations. The settlement amount is calculated using an Indicative Amount (IA) based on factors like the Proceeding Conversion Factor (PCF) and Regulatory Action Factor (RAF). The IA is influenced by the stage of proceedings and the nature of the default, with minimum thresholds set for first-time and repeat applicants. The guidelines also address corporatization, mergers, and management changes, ensuring previous records are considered for new entities. Discretion is allowed for the Internal Committee or High Powered Advisory Committee to adjust settlement amounts based on case specifics. The regulations also provide for reductions in IA under certain conditions, such as voluntary disclosure or confidentiality requests, and consider mitigating and aggravating factors when assessing defaults.
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