Cancellation of merchant banker registration formerly applied to market manipulation, financial deterioration, fraud, criminal conviction, or repeated default.

Cancellation of a merchant banker's registration was formerly available for deliberate market manipulation, price rigging, cornering activities, financial deterioration affecting investor interests, fraud, criminal conviction, or repeated regulatory default. Repeated default required written reasons for cancellation. Regulation 37, which contained these grounds, was omitted with effect from 27-09-2002.

---

---

---