Sebi streamlines settlement norms to make process faster, more effective

Markets regulator Sebi has streamlined settlement regulations to make procedures faster and more effective.

In order to save time,Sebi said instead of issuing settlement notice under the regulations, a paragraph will be included in the show cause notice informing the noticee about the option to file a settlement application.

Sebi has amended settlement regulations to implement the changes, the regulator said in a notification dated July 22.

In addition, amendments have been made to the settlement regulations to include promoters along with the Principal Officer for the purpose of calculation of the base amount.

Besides, base amount for alleged defaults relating to open offer