SEBI issues framework for levying penalty for surveillance lapses.

Banking & Finance

SEBI on Thursday came out with a framework on ā€œfinancial disincentivesā€ for market infrastructure institutions that would impose a penalty ranging from ā‚¹1 lakh to ā‚¹1 crore for each instance surveillance lapse during the financial year. Penalty for first instance of lapse will vary from ā‚¹1 lakh (if annual revenue of MII is less than ā‚¹300 crore) to ā‚¹25 lakh (if annual revenue is greater than ā‚¹1,000 crore). For second instance, this penalty will vary from ā‚¹2 lakh to ā‚¹50 lakh. For third instance onwards the penalty will vary from ā‚¹4 lakh to ā‚¹1 crore.


      SEBIā€™s new framework will be applicable from July 1.

     

     

 

     


About SEBI

Chairperson - Smt. Madhabi Puri Buch
HQ - Mumbai
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