Regulator directions can mandate divestment, transfer to investor protection funds, and debar market access of securities. The Board may, suo motu or on information or during or after inspections, inquiries or investigations, issue directions in the interest of the public, trade, investors or the securities market requiring divestment of equity holdings held in contravention of the regulations, directing transfer of proceeds or securities to a depository's Investor Protection Fund, and debarment from accessing the securities market or dealing in securities of depositories, their shareholders, associates, agents, transferees, sponsors, directors and key management personnel for periods as determined by the Board.