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<h1>SEBI Amends Regulations: New Procedure for Expelled Brokers; Fast-Track Orders Without Hearings to Protect Investors.</h1> The Securities and Exchange Board of India (SEBI) issued the Intermediaries (Second Amendment) Regulations, 2021, effective upon publication in the Official Gazette. The amendment introduces a special procedure for action against stockbrokers or clearing members expelled from stock exchanges or clearing corporations, and depository participants with terminated agreements. SEBI may issue notices requiring submissions within 21 days, without granting personal hearings, and aims to pass orders within 20 days. The order may impose conditions to protect investors and the securities market. Upon certificate cancellation, entities must cease activities, transfer operations, and manage liabilities as directed by SEBI.