Fit and proper person criteria govern SEBI intermediaries through integrity, competence, financial soundness, and disqualification controls. The fit and proper person criteria for SEBI intermediaries require applicants and intermediaries to meet competence, infrastructure, manpower and financial soundness standards, and apply to principals, directors, compliance officers, key management persons, promoters and controlling persons. The Board may consider integrity, reputation, conduct and specified adverse events such as restraint orders, convictions, insolvency, wilful default and related disqualifications. A declaration of not fit and proper follows a hearing, affects eligibility for registration, and may require replacement of disqualified persons or divestment of holdings.
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.
Fit and proper person criteria govern SEBI intermediaries through integrity, competence, financial soundness, and disqualification controls.
The fit and proper person criteria for SEBI intermediaries require applicants and intermediaries to meet competence, infrastructure, manpower and financial soundness standards, and apply to principals, directors, compliance officers, key management persons, promoters and controlling persons. The Board may consider integrity, reputation, conduct and specified adverse events such as restraint orders, convictions, insolvency, wilful default and related disqualifications. A declaration of not fit and proper follows a hearing, affects eligibility for registration, and may require replacement of disqualified persons or divestment of holdings.
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