"SEBI may take any of the measures either pending investigation or inquiry or on completion of such investigation." Enumerate such measures in the light of the provisions of the SEBI Act.
CS Executive · Securities Laws and Capital Markets · PYQS · December 2020
"SEBI may take any of the measures either pending investigation or inquiry or on completion of such investigation." Enumerate such measures in the light of the provisions of the SEBI Act.
Answer & Explanation:
As per Section 11(4) of SEBI Act, 1992, the SEBI may, by an order or for reasons to be recorded in writing, in the interest of investors or securities market take any of the following measures either pending investigation or inquiry or on completion of such investigation or inquiry namely: suspend the trading of any security in a recognised Stock Exchange restrain persons from accessing the securities market and prohibit any person associated with securities market to buy, sell or deal in securities. suspend any office-bearer of any stock exchange or self-regulatory organisation from holding such position. impound and retain the proceeds or securities in respect of any transaction which is under investigation attach, for a period not exceeding 90 days, bank accounts or other property of any intermediary or any person associated with the securities market in any manner involved in violation of any of the provisions of this Act, or the rules or regulations made thereunder; direct any intermediary or any person associated with the securities market in any manner not to dispose of or alienate an asset forming part of any transaction which is under investigation.
Topics: Securities Market Regulation
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