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of <h1>SEBI Amends Ombudsman Regulations: New Expert Nomination Criteria and Revised Term Limits for Ombudsmen Under Regulation 3 and 7.</h1> The Securities and Exchange Board of India (SEBI) issued an amendment to the Ombudsman Regulations of 2003, effective upon publication in the Official Gazette. The amendment modifies regulation 3, sub-regulation (3), specifying the nomination of an expert in financial market operations and a person with special knowledge in law, finance, or economics by the Chairman. Additionally, regulation 7 is revised to state that an Ombudsman will serve a three-year term, with eligibility for a two-year reappointment, but cannot hold office beyond the age of 65.
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