{"id":4446,"date":"2026-02-09T08:22:21","date_gmt":"2026-02-09T08:22:21","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=4446"},"modified":"2026-02-09T08:22:26","modified_gmt":"2026-02-09T08:22:26","slug":"sebi-consultation-paper-dated-04-02-2026-proposed-amendments-to-sebi-intermediaries-regulations-fit-and-proper-person-criteria","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/02\/09\/sebi-consultation-paper-dated-04-02-2026-proposed-amendments-to-sebi-intermediaries-regulations-fit-and-proper-person-criteria\/","title":{"rendered":"SEBI Consultation Paper Dated 04\/02\/2026 &#8211; Proposed amendments to SEBI Intermediaries Regulations, \u2018Fit and Proper Person\u2019 Criteria\u00a0"},"content":{"rendered":"\n<p><strong>\u00a0<\/strong>The paper proposes removing rule-based disqualifications triggered merely by the pendency of criminal complaints or charge sheets, relying instead on principle-based assessment, while expanding disqualification to include convictions for economic offences and securities law violations. Other proposals include aligning winding-up disqualification only to cases where winding-up orders are passed, introducing explicit provisions for disclosure and opportunity of hearing, removing the default five-year prohibition where no period is specified, reducing the non-consideration period for registration applications after a show cause notice from one year to six months, and replacing mandatory divestment of holdings with restriction of voting rights. The comments\/ feedback from stakeholders is invited.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.sebi.gov.in\/reports-and-statistics\/reports\/feb-2026\/consultation-paper-on-proposed-amendments-to-schedule-ii-of-the-securities-and-exchange-board-of-india-intermediaries-regulations-2008-fit-and-proper-person-criteria-_99485.html\"><em>(Link: SEBI Consultation Paper Dated 04\/02\/2026)<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0The paper proposes removing rule-based disqualifications triggered merely by the pendency of criminal complaints or charge sheets, relying instead on [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[95,52],"tags":[],"class_list":["post-4446","post","type-post","status-publish","format-standard","hentry","category-reports-for-public-comments","category-sebi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEBI Consultation Paper Dated 04\/02\/2026 - Proposed amendments to SEBI Intermediaries Regulations, \u2018Fit and Proper Person\u2019 Criteria\u00a0 - Bhatia Bhola &amp; 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