Liability for action under the Securities and Exchange Board of India (Intermediaries) Regulations, 2008

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..... A stock broker ^7[****] shall be liable for any action as specified in ^2[Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008] including suspension or cancellation of his certificate of registration as a stock broker ^7[****] ^6[****], if he- (i) ceases to be a member of a stock exchange; or (ii) has been declared defaulter by a stock....

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....mply with the rules, regulations and bye-laws of the stock exchange of which he is a member; or (ix) fails to co-operate with the inspecting or investigating authority; or (x) fails to abide by any award of the Ombudsman or decision of the Board under the Securities and Exchange Board of India (Ombudsman) Regulations, 2003; or (xi) fails to pay the penalty imposed by the....

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.... 1 Regulations 25 to 28 substituted for regulation 25 by the SEBI (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2003, w.e.f. 20-11-2003. 2 Substituted for "SEBI(Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002" by the SEBI (Intermediaries) Regulations, 2008, w.e.f. 26-05-2008. 3. Substituted vide Notification No. SEBI/LAD-NRO/GN/202....