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of <h1>SEBI Amends Self Regulatory Organizations Regulations: Updates to Recognition, Fit and Proper Criteria, and In-Principle Approvals.</h1> The Securities and Exchange Board of India (SEBI) issued the Second Amendment to the Self Regulatory Organizations Regulations, 2013, under the authority of the SEBI Act, 1992. The amendments include changes to regulation 3, allowing SEBI to grant recognition certificates to one group or association for mutual fund distributors. Regulation 4 was updated to specify that applicants must be deemed fit and proper per criteria in the SEBI (Intermediaries) Regulations, 2008. A new regulation, 4A, allows SEBI to grant in-principle approval valid for 180 days, extendable by 90 days, for applicants not fully compliant with certain provisions.
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