Merchant bankers must appoint a compliance officer meeting qualification, experience, certification, independence, monitoring and reporting obligations. Regulation 28A mandates a compliance officer for each merchant banker who must meet specified educational, experience and certification criteria; be independent from the principal officer and certain employees; monitor regulatory compliance and redress investor grievances; report non compliance to the Board; and be replaced within three months of vacancy, with interim appointees required to meet regular appointment conditions.
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.
Merchant bankers must appoint a compliance officer meeting qualification, experience, certification, independence, monitoring and reporting obligations.
Regulation 28A mandates a compliance officer for each merchant banker who must meet specified educational, experience and certification criteria; be independent from the principal officer and certain employees; monitor regulatory compliance and redress investor grievances; report non compliance to the Board; and be replaced within three months of vacancy, with interim appointees required to meet regular appointment conditions.
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