Securities And Exchange Board Of India - Subsection
Section 8(2) in Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulations, 2014
(2)The non-monetary terms may include appropriate directions, such as:(a)Voluntary suspension of certificate of registration or closure of business for a specified period;(b)Removal from Management;(c)Direction in the nature of disgorgement, where it is possible to identify the investors who have incurred losses on account of the action or inaction of the applicant;(d)Debarment of certain individuals from acting as a partner or officer or director of an intermediary or as an officer or director of a company that has a class of securities regulated by the Board, for specified periods;(e)Cancellation of securities and reduction in share holding where the securities are issued fraudulently including cancellation of bonus shares received on such securities, if any, and reimbursement of any dividends received, etc;(f)Voluntary lock-in of securities;(g)Implementation of enhanced policies and procedures to prevent future securities laws violations as well as direction to appoint or retain an independent consultant to review policies and procedures;(h)Direction to provide enhanced training and education to employees of intermediaries;(i)Directions relating to internal audit and reporting requirements;(j)Any other directions that may be issued by the Board under the securities laws in the interest of the investors.
