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<h1>New SEBI Intermediaries Rules: Regulation 30A(1)(da) links regulatory action to net worth, revenue, business transfer compliance</h1> The notification introduces the Securities and Exchange Board of India (Intermediaries) (Third Amendment) Regulations, 2025, amending the 2008 Intermediaries Regulations. Effective thirty days from publication in the Official Gazette, it inserts a new clause (da) into regulation 30A(1). Under this clause, an intermediary may face regulatory consequences if it fails to meet specified minimum net worth or minimum liquid net worth requirements, fails to achieve prescribed minimum revenue from permitted activities (subject to Board-specified exemptions), or fails to transfer specified activities to a separate business unit as directed by the Board. The footnotes trace prior amendments to the 2008 framework.