Certification refusal requires intermediaries to cease operations, transfer activities, protect client assets, and meet imposed protective conditions. Certification refusal, or failure by an intermediary to apply for certification as required, obliges the intermediary to immediately cease acting in that ... Summary
Securities and Exchange Board of India (Intermediaries) Regulations, 2008
Certification refusal requires intermediaries to cease operations, transfer activities, protect client assets, and meet imposed protective conditions.
Certification refusal, or failure by an intermediary to apply for certification as required, obliges the intermediary to immediately cease acting in that capacity. It must transfer its activities to a duly certified intermediary, permit clients or investors to withdraw or transfer securities or funds held in custody without additional cost, and make provision for liabilities incurred or assumed.
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