Photo of Surbhi Ajitsaria

Associate in the Financial Regulatory Practice at the Mumbai office of Cyril Amarchand Mangaldas. Surbhi can be reached at surbhi.ajitsaria@cyrilshroff.com

Settling for a Price – The SEBI Consent Mechanism, Version 4.0

On August 10, 2018, the Securities and Exchange Board of India (SEBI) published a report (Report) of the High Level Committee under the Chairmanship of Justice A. R. Dave (Retd.) (Committee). The Report has made recommendations to revamp the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (Regulations).

As and when amended, this will mark the fourth avatar of the consent process, first introduced by SEBI through a circular way back in 2007 (remodelled substantially in 2012) and then reincarnated as delegated legislation in 2014. The Report has taken into account SEBI’s experience with this mechanism in the past few years as well as evolving market trends.Continue Reading Settling for a Price – The SEBI Consent Mechanism, Version 4.0