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<h1>Regulation 15: Governing Norms for Self Regulatory Organizations Include Member Criteria, Information Sharing, and Disciplinary Actions.</h1> Regulation 15 of the Securities and Exchange Board of India (Self Regulatory Organisations) Regulations, 2004, outlines the governing norms for Self Regulatory Organizations (SROs). These norms, subject to Board approval, include criteria for member admission and removal, information sharing, dispute resolution, and disciplinary procedures. SROs must maintain internal controls, conduct elections, and report to the Board monthly. Violations can lead to penalties such as share forfeiture, expulsion, or suspension. The Board can direct SROs to alter norms, and if non-compliant, may amend them directly.