Intermediary regulation harmonisation centralises fit-and-proper assessment and enforcement procedures across regulated securities market entities under a common framework. Schedule IV replaces entity-specific fit-and-proper provisions across securities-market intermediary regimes. The Board may consider the Schedule II ... Summary
Securities and Exchange Board of India (Intermediaries) Regulations, 2008
Intermediary regulation harmonisation centralises fit-and-proper assessment and enforcement procedures across regulated securities market entities under a common framework.
Schedule IV replaces entity-specific fit-and-proper provisions across securities-market intermediary regimes. The Board may consider the Schedule II criteria under the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 when assessing applicants and covered intermediaries. References to the earlier enquiry and penalty procedure are replaced by Chapter V across relevant regimes. Default-liability clauses for bankers to an issue, credit rating agencies, foreign institutional investors, merchant bankers, portfolio managers, and underwriters make contraventions liable to one or more actions, including action under Chapter V.
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