Securities and Exchange Board of India Act, 1992; Securities Contracts (Regulation) Act, 1956; and Depositories Act, 1996 may soon be amended as a result of Finance Bill, 2018.
Some of the proposed amendments to SEBI Act are –
- Whole Time Member (WTM) and Adjudicating Officer of SEBI, both will be entitled to impose a penalty.
- Provision of penalty in case of failure of a stock exchange or a clearing corporation to conduct its business in a manner which is not in accordance with the rules and regulations made by SEBI.
- Provision of penalty on any person who furnishes or files false, incorrect or incomplete information, return, report, books or other documents in the same manner as a person who fails to furnish the required information.
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