𝐒𝐀𝐓 𝐢𝐦𝐩𝐨𝐬𝐞𝐬 𝐜𝐨𝐬𝐭𝐬 𝐨𝐧 𝐒𝐄𝐁𝐈 𝐟𝐨𝐫 𝐩𝐚𝐬𝐬𝐢𝐧𝐠 𝐚𝐧𝐨𝐭𝐡𝐞𝐫 𝐦𝐞𝐜𝐡𝐚𝐧𝐢𝐜𝐚𝐥 𝐨𝐫𝐝𝐞𝐫: 𝐍𝐞𝐞𝐝 𝐟𝐨𝐫 𝐚 𝐔𝐧𝐢𝐟𝐨𝐫𝐦 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐂𝐨𝐝𝐞

We’re pleased to share an insightful article by Sumit Agrawal, Founder of Regstreet Law Advisors and a former SEBI officer, with assistance from Akarsh Tripathi, Associate at Regstreet Law Advisors, published on Bar and Bench.

The article discusses a recent order of Hon’ble Securities Appellate Tribunal (SAT) wherein the the Tribunal has set aside a SEBI AO order for issuing a “mechanical” penalty on SRBC, a CA firm. The article provides a relook on the past instances of regulatory overreach and provides recommendations for the draft Uniform Securities Code, as announced by the Finance Minister of India which includes:
– Defining time limits for SEBI investigations.
– Enhancing transparency in SEBI’s annual reporting.
– Separating SEBI’s adjudicatory and executive functions.
– Reviewing and rationalizing SEBI’s powers through legislative oversight.

Read the full article here: https://lnkd.in/dijvVjtu