Securities and Exchange Board of India (Intermediaries) Regulations, 2008 Chapter V ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATE
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Certificate cancellation procedure ensures written response, conditional personal hearing, further enquiry, and reasoned regulatory orders after review. Default proceedings require the competent authority to provide the designated authority's report to the noticee and invite written submissions within the ... Summary
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Certificate cancellation procedure ensures written response, conditional personal hearing, further enquiry, and reasoned regulatory orders after review.
Default proceedings require the competent authority to provide the designated authority's report to the noticee and invite written submissions within the specified period, not exceeding twenty-one days from service. The response period may be extended for recorded reasons. The matter may be remitted for fresh or further enquiry, and a personal hearing may be granted where cancellation of registration is recommended or prima facie considered appropriate. An appropriate order should be passed within one hundred and twenty days from the later of receipt of submissions or the personal hearing.
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