The Kerala High Court recently held that the Securities and Exchange Board Of India can delegate the quasi-judicial functions of the Board to its members if the statute permits such delegation. The court noted that Section 19 of the SEBI Act permits delegation of the function and power of the Board to its members, except the powers under under Section …
The Securities and Exchange Board of India, the regulatory body that monitors the activities of the stock market, has taken a big step to eliminate the possibility of misuse of investors’ money by financial brokers. SEBI has proposed to prohibit trading members and ‘clearing’ members from holding investor money till the end of the day and return the entire amount …
