Regulation 32 - Effect of debarment, suspension, cancellation or surrender
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 debarment and suspension require intermediaries to cease regulated activities while preserving client withdrawal and transfer rights. Debarment, suspension, surrender, or cancellation of a certificate of registration requires cessation of the certified activity and protection of clients' ... Summary
Certificate debarment and suspension require intermediaries to cease regulated activities while preserving client withdrawal and transfer rights.
Debarment, suspension, surrender, or cancellation of a certificate of registration requires cessation of the certified activity and protection of clients' and investors' withdrawal or transfer rights without additional cost. A person subject to debarment or suspension cannot undertake new assignments, contracts, or schemes. On surrender or cancellation, the certificate must be returned, the person cannot represent itself as registered, and its activities must be transferred to another validly registered person. Liabilities, records, documents, and investor assets must be appropriately provided for and handled.
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