The Securities and Exchange Board of India vide notification dated 21st January, 2021 has issued the Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2021. The amendment provides a new procedure for enquiry and recommendation of action at instance of violation of these regulations. The actions that can be initiated by the designated authority against intermediaries may include:
- Disposing of the proceedings without any adverse action;
- Cancellation of the certificate of registration;
- Suspension of the certificate of registration for a specified period;
- Prohibition of the notice from taking up any new assignment or contract or launching a new scheme for such the period as may be specified;
- Debarment of an officer of the notice from being employed or associated with any registered intermediary or other person associated with the securities market for such period as may be specified;
- Debarment of a branch or an office of the notice from carrying out activities for such period as may be specified;
- Issuance of a regulatory censure to the notice:
