Fit-and-proper eligibility and disciplinary procedures are harmonised for securities intermediaries within the Intermediaries Regulations framework. Schedule IV aligns fit-and-proper assessments for applicants and regulated securities intermediaries by allowing the Board to apply the Schedule II ... Summary
Securities and Exchange Board of India (Intermediaries) Regulations, 2008
Fit-and-proper eligibility and disciplinary procedures are harmonised for securities intermediaries within the Intermediaries Regulations framework.
Schedule IV aligns fit-and-proper assessments for applicants and regulated securities intermediaries by allowing the Board to apply the Schedule II criteria in the Intermediaries Regulations, 2008. It replaces the earlier enquiry and penalty procedural references with Chapter V of those Regulations across multiple intermediary regimes. Liability provisions for bankers to an issue, credit rating agencies, foreign institutional investors, merchant bankers, portfolio managers, and underwriters make contraventions of applicable securities law subject to one or more specified actions, including Chapter V action.
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