SEBI notifies new norms
Q. Market regulatory SEBI has notified new norms on 18th September 2015 regarding the following:- Published on 20 Sep 15a. Dilution of chairman’s powers on conduct of search and seizure of defaulters properties
b. Permission for such operations being required from special courts
c. Both of the above
d. None of the above
ANSWER: Both of the above
Market regulatory authority SEBI has notified new norms to dilute chairman powers regarding conduct during search and seizure of defaulter’s properties. Permission for such operations will be required from the special court by SEBI, as against earlier regulations that left the chief of SEBI directly authorise these actions. Regulations are referred to as Securities and Exchange Board of India(Procedure for Search and Seizure) Repeal Regulations 2015. Search and seizure operations will now have to be authorised by Magistrate or Judge of the designated court. Securities Law AA 2014 is an attempt to curb ponzi schemes.
