Section 14 in Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016
14. Suspension and Cancellation of Certificate of Registration.
- The certificate of registration issued to the Retirement Adviser shall be liable to be suspended, withdrawn, revoked or cancelled, as the case may be in the following cases, namely if the Retirement Adviser :(a)fails to comply with any of the conditions subject to which the certificate has been granted;(b)contravenes any of the provisions of the Pension Fund Regulatory and Development Authority Act, 2013, the regulations made thereunder and such other guidelines or directions issued by the Authority from time to time; or;(c)fails to furnish any information relating to his activities as retirement adviser, as required by the Authority;(d)furnishes wrong or false information, or conceals or fails to disclose material facts in the application submitted for obtaining the certificate;(e)does not submit periodical returns as required by the Authority;(f)fails to resolve the complaints of the subscribers or fails to give a satisfactory reply to the Authority in this behalf;(g)does not co-operate with any inspection conducted by the Authority;(h)acts in a manner detrimental to or against the interest of the subscriber or against public interest or does not promote orderly growth of National Pension System or violates the features of the said scheme;(i)against whom any investigation has been commenced by any agency or authority in relation to activities of fraud or financial impropriety or any orders of restraint, debarment, prohibition or like nature has been passed against it by any regulatory body or by the government or has been convicted for commission of any economic offences or involving moral turpitude by any court of law.(j)Any other acts of commission or omission as may be specified by the Authority through notification or circulars or guidelines.
