SEBI Updates: Merchant Bankers' Experience Rules Relaxed, Grievance Procedures Enhanced, and Gender-Neutral Language Adopted.

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....Amendments to SEBI (Merchant Bankers) Regulations: 1. Removing the requirement of minimum two years of experience for employees of merchant bankers. Instead, requiring at least two employees professionally qualified in finance, law, accountancy or business management. 2. Merchant bankers to take all necessary steps for grievance redressal instead of just "adequate" steps. Removing the requirement to inform SEBI about complaints received. 3. Merchant bankers granted registration must ensure market making as per SEBI regulations. 4. Clearly defining responsibilities of lead managers, especially regarding disclosures, allotment and refunds in offer documents. 5. Restricting merchant bankers from lead managing issues if they are promoters/assoc.........