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of <h1>Disqualification Criteria for Ombudsman Under SEBI Regulations: Insolvency, Convictions, Mental Soundness, Recent Directorship</h1> A person is disqualified from holding the position of Ombudsman under the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 if they are an undischarged insolvent, have been convicted of an offense involving moral turpitude, declared of unsound mind by a court, charge-sheeted for any offense including economic ones, or have been a whole-time director in an intermediary or listed company within the last three years. However, this disqualification does not apply to those who served as whole-time directors of public sector banks or undertakings as defined under relevant acts and regulations.
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