SEBI empowers ‘WTM’ and ‘Competent Officer’ to dispose of settlement proceedings
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- Last Updated on 19 January, 2023
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Circular no. No. SEBI/LAD-NRO/GN/2023/118, Dated: 17.01.2023
The SEBI has notified the SEBI (Settlement Proceedings) (Amendment) Regulations, 2023. An amendment has been made to regulation 23 of SEBI (Settlement Proceedings) Regulations, 2018. Now, in addition to the Adjudicating Officer, the Whole Time Member or the competent officer of the Board can also dispose of the proceeding on the basis of approved settlement terms. Under extant norms, only the Adjudicating Officer was empowered to dispose of the proceedings.
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