Broker liability for regulatory action: registration may be suspended or cancelled for specified defaults and misconduct. Regulation 27 prescribes liability for action against a stock broker under the Intermediaries Regulations, 2008, permitting Chapter V measures such as suspension or cancellation of registration where the broker ceases exchange membership, is declared a defaulter and not re admitted within six months, surrenders registration, is found not fit and proper, becomes insolvent or wound up, faces conviction for moral turpitude among persons in control, fails to pay fees or penalties, disobeys exchange rules or Board circulars, fails to cooperate with investigations, or engages in market manipulation, insider trading, fraudulent or grievous violations.
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.
Broker liability for regulatory action: registration may be suspended or cancelled for specified defaults and misconduct.
Regulation 27 prescribes liability for action against a stock broker under the Intermediaries Regulations, 2008, permitting Chapter V measures such as suspension or cancellation of registration where the broker ceases exchange membership, is declared a defaulter and not re admitted within six months, surrenders registration, is found not fit and proper, becomes insolvent or wound up, faces conviction for moral turpitude among persons in control, fails to pay fees or penalties, disobeys exchange rules or Board circulars, fails to cooperate with investigations, or engages in market manipulation, insider trading, fraudulent or grievous violations.
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