Regulation 37 - Board's right to inspect - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014

CHAPTER VII INSPECTION Board's right to inspect. 37. The Board may suomotuor upon receipt of information or complaint appoint one or more persons as inspecting authority to undertake inspection of the books of account, records and documents relating to a designated depository participant for any of the following purposes, namely,- (a) to ensure that the books of account, records including telephone records and electronic records and documents are being maintained by the designated depository participants; (b) to ascertain whether any circumstances exist which would render the designated depository participants unfit or ineligible; (c) to inquire into the complaints received from investors, clients, other market participants or any other person on any matter having a bearing on the activities of the designated depository participants; (d) to ascertain whether the provisions of the securities laws and the directions or circulars issued thereunder are being complied with by the designated depository participants; (e) to ascertain whether the systems, procedures and safeguards which have been established and are being followed by the designated depository participants are adequate; and (f) to investigate suomotu into the affairs of the designated depository participants in the interest of the securities market or in the interest of investors.