Fit and proper requirements bar individuals with specified disqualifications from eligibility to serve in capital market intermediary roles. A capital market intermediary must ensure that its entity and specified senior persons are fit and proper, defined by fairness, financial integrity, reputation and honesty. The regulation lists disqualification grounds-including convictions or charges for economic or securities offences, pending recovery proceedings, orders for malfeasance, insolvency, regulatory debarments, designation as financially unsound or wilful defaulter, fugitive economic offender status, unsound mind findings, and other Authority specified disqualifications-and bars persons declared not fit and proper from registration until they satisfy the criteria.