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SEBI PROPOSES STRINGENT RULES FOR AUDITORS, MONITORING AGENCIES ETC

SEBI PROPOSES STRINGENT RULES FOR AUDITORS, MONITORING AGENCIES ETC

SEBI PROPOSES STRINGENT RULES FOR AUDITORS, VALUERS, MERCHANT BANKERS, LAW FIRMS... There are, certain other fiduciaries such as Practicing CAs, CSs, CMAs, Valuers, Monitoring Agencies, etc. that are neither registered nor regulated by SEBI. However, as per the various SEBI Regulations, they are engaged by the issuers, intermediaries, pool investment vehicles, investor in the securities market, etc. to issue certificates or reports as required under the respective regulations. SEBI has proposed to stringent the rules for such fiduciaries hired by listed companies as the auditing lapses have cuased several frauds  to go unnoticed for years & there is no direct control by SEBI on the such fiduciaries. As part of this exercise, SEBI, on 13th July, 2018, has published Consultative Paper on proposed SEBI ( Fiduciaries iin the Securities Market) (Amendment) Regulations, whereby amendments are proposed in (1) SEBI LODR Regulations, 2009  (2) SEBI ICDR Regulations, 2009 and many other Regulations to introduce the new concept of FIDUCIARIES. Kindly click the following for full text of the Consultative Papers.

https://www.sebi.gov.in/reports/reports/jul-2018/consultation-paper-on-proposed-sebi-fiduciaries-in-the-securities-market-amendment-regulations-_39541.html#



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