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<h1>SEBI Updates Intermediaries Regulations: New Procedures for Inquiries and Actions Against Intermediaries, Effective January 21, 2021.</h1> The Securities and Exchange Board of India (SEBI) has amended the Intermediaries Regulations, 2008, effective from January 21, 2021. Key changes include the substitution of regulations 25, 26, and 27, detailing procedures for holding inquiries, recommending actions, and issuing orders against intermediaries. The amendments outline the process for issuing notices, allowing replies and personal hearings, and the potential actions that can be recommended, such as cancellation or suspension of registration. The designated authority must submit a report within 120 days, and the designated member must pass an order within 120 days of receiving submissions or after a personal hearing. Regulation 28 has been omitted.