Vault manager defaults trigger intermediary proceedings for compliance breaches, misleading disclosures, reporting failures, complaint handling, and unpaid regulatory fees. Vault Manager liability for action arises from regulatory contraventions, non-furnishing of required information or reports, false or misleading ... Summary
Vault manager defaults trigger intermediary proceedings for compliance breaches, misleading disclosures, reporting failures, complaint handling, and unpaid regulatory fees.
Vault Manager liability for action arises from regulatory contraventions, non-furnishing of required information or reports, false or misleading information, and non-payment of prescribed fees. It also covers non-cooperation in audits, enquiries or inspections, failure to update systems, deficient complaint resolution, unsatisfactory responses to the Board, and breach of the Code of Conduct. Such defaults are dealt with under the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.
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