Cancellation of registration applies where manipulation, serious financial deterioration, fraud or repeated defaults threaten investor interests. Regulation 32 prescribes grounds for cancellation of registration of a portfolio manager: deliberate market manipulation or price rigging affecting the market and investors; severe deterioration of financial position rendering continuation not in investors' interest; fraud or criminal conviction; and repeated defaults of the type in the preceding regulation, with the Board required to provide written reasons when cancellation is based on repeated defaults.
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.
Cancellation of registration applies where manipulation, serious financial deterioration, fraud or repeated defaults threaten investor interests.
Regulation 32 prescribes grounds for cancellation of registration of a portfolio manager: deliberate market manipulation or price rigging affecting the market and investors; severe deterioration of financial position rendering continuation not in investors' interest; fraud or criminal conviction; and repeated defaults of the type in the preceding regulation, with the Board required to provide written reasons when cancellation is based on repeated defaults.
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