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<h1>SEBI Amends 1995 Rules: Expands Adjudicating Authority, Allows Error Rectification, and Streamlines Penalty Process.</h1> The Securities and Exchange Board of India (SEBI) has amended the rules for holding inquiries and imposing penalties by adjudicating officers. These amendments, effective from their publication date, modify the 1995 rules by expanding the scope of authority to include both the Board and adjudicating officers. Key changes include updates to references in various sections, the ability for the Board or adjudicating officer to rectify apparent errors in orders, and the elimination of certain terms. These modifications aim to streamline the adjudication process and enhance the regulatory framework under the SEBI Act, 1992.