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Disgorging market miscreants

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Disgorging-market-miscreants-Financial-Express-Article

Prof. (Dr.) MS Sahoo and Mr. Sumit Agrawal in the Financial Express have analysed the need to fine-tune the practice of disgorgement to ensure unwavering investor trust.

In this piece, the authors examine the regulatory jurisprudence of disgorgement, roadblocks arising from non-adherence to procedural fairness and suggest measures to improve its effectiveness. Disgorgement, a unique power to any financial regulator, is an equitable remedy that aims to restore the parties to the financial position they had before the contravention by making the wrongdoer disgorge the unjust gain it has made and if possible, using the disgorged amount to compensate the victims.

Disgorgement serves several purposes- fairness, deterrence, restitution, public interest, etc. Regulators must utilise it to compensate their innocent constituents- consumers, clients, investors, and the like. This would substantially enhance the legitimacy of the regulator in its constituency and promote market integrity and vibrancy.

One may access and read the full https://www.financialexpress.com/opinion/disgorging-market-miscreants-as-a-practice-disgorgement-needs-fine-tuning-to-ensure-unwavering-investor-trust/3242854/ article below.

Mr. Sumit Agrawal and Dr. MS Sahoo have in the recent past authored a series of articles on various significant policy issues in the financial regulatory field. These include writing on issues of ‘Orders prohibiting persons from associating with the securities market’ (link to the article: https://regstreetlaw.com/articles/standardising-regulatory-prescriptions/), ‘Issuance of warning’ by SEBI is case of any of its provisions, directions or orders (link to the article: https://regstreetlaw.com/articles/sebi-warns-wrongdoers-to-what-effect/), ‘An interim SEBI order must not be open-ended’ (link to the article: ), ‘Is it wrong to penalise CCI Appeals?’ (link to the article: https://regstreetlaw.com/articles/it-is-wrong-to-penalise-cci-appeals/), ‘The goose that laid the golden eggs’ – AT1 Bonds (link to the article: https://regstreetlaw.com/articles/the-goose-that-laid-the-golden-eggs/)

Regulatory law enthusiasts can read the recent attached article. Also one may provide feedback to Regstreet Law Advisors at info@regstreetlaw.com.

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