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of <h1>SEBI Regulations, 2003: Ombudsman Role Created to Handle Financial Market Grievances with Selection by Expert Committee.</h1> The Securities and Exchange Board of India (SEBI) Regulations, 2003, establish the office of Ombudsman to address grievances related to financial market operations. The Board, upon recommendation from a Selection Committee, appoints one or more Ombudsmen with specified territorial jurisdiction. The Selection Committee includes an expert in financial markets, a person with special knowledge in law, finance, or economics, and a SEBI representative. The Committee may also prepare a panel for appointing a Stipendiary Ombudsman, which is valid for two years and can be reconstituted, allowing existing members to be re-included.
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