News & Media 4th Aug 2022
The Securities and Exchange Board of India (SEBI) has amended the SEBI (Intermediaries) Regulations, 2008 and replaced the words ‘designated member’ with ‘competent authority’. In essence, SEBI has relaxed the process for conducting proceedings against intermediaries. As against whole time members only, now chief general managers, executive directors and WTMs are empowered to pass an order of cancellation or suspension of registration.
Against this backdrop, Abhiraj Arora, Associate Partner at Economic Laws Practice (ELP) has been quoted by Financial Express (India) in their article titled ‘Board gets more teeth: SEBI widens ambit to proceed against intermediaries’.
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