Vault manager liability: specified defaults trigger enforcement under intermediaries' regulatory framework and disciplinary mechanism. Regulation 27 specifies that a Vault Manager who contravenes the Act, associated rules or these regulations, fails to furnish information or reports, ... Summary
Securities and Exchange Board of India (Intermediaries) Regulations, 2008
Vault manager liability: specified defaults trigger enforcement under intermediaries' regulatory framework and disciplinary mechanism.
Regulation 27 specifies that a Vault Manager who contravenes the Act, associated rules or these regulations, fails to furnish information or reports, furnishes false information, does not cooperate with enquiries or inspections, fails to update systems per Board recommendations, fails to resolve complaints or breaches the Third Schedule Code of Conduct, or fails to pay fees, shall be dealt with under the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.
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