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Securities and Exchange Board of India (SEBI) on August 1, 2022 has issued a Notification on “Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2022”. This Amendment Regulation has been brought forth in order to amend the SEBI (Intermediaries) (Amendment) Regulations, 2008 in the following manner:

  1. for the words “designated member”, wherever occurring, the words “competent authority” shall be substituted;
  2. in regulation 22, clause (c) shall be substituted by the following, namely, –

“c “competent authority” means a Whole Time Member or an officer of the Board, not below the rank of a Chief General Manager, as may be designated for the purpose by the Board;”;

in regulation 24, sub-regulation (1) shall be substituted by the following, namely, –

“(1) The Board may approve the initiation of proceedings for any default of the nature specified in regulation 23 against any person who has been granted a certificate of registration under the Act and regulations made thereunder.”

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For further information, please contact:

Vineet Aneja – Clasis Law,
vineet.aneja@clasislaw.com

Vineet heads Clasis Law and shares his time between the Delhi and Mumbai offices. He has extensive experience working with both Indian and foreign companies, as well as with government authorities.

Vineet’s corporate practice includes advising on mergers and acquisitions, joint ventures, private equity and investment funds on a full range of corporate clients on general corporate matters and in the areas of capital markets, project finance, regulatory and real estate.

Vineet’s skill set includes a deep transactional understanding as well as significant industry expertise across industries as diverse as manufacturing, media, medical devices, fashion, insurance, technology, telecommunications, infrastructure, hospitality, retail and financial services. Client feedback has highlighted the value his experience adds to both the legal and commercial sides of transactions.

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