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          <h1>SEBI Can Act Against Non-Compliant Merchant Bankers, Registrars, Brokers Under 1998 Buy Back Regulations</h1> The Securities and Exchange Board of India (SEBI) is empowered to take action against intermediaries such as merchant bankers, registrars, or brokers who fail to comply with obligations or observe due diligence under the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998. If a merchant banker does not adhere to these obligations, SEBI may initiate proceedings under the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992. Similarly, non-compliance by registrars or brokers will lead to actions as per the regulations relevant to those intermediaries.

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