Regulation 9 - Factors to be considered to arrive at the settlement terms - Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulations, 2014

Factors to be considered to arrive at the settlement terms. 9. While arriving at the settlement terms, the Board shall also consider such factors including but not limited to the following: (a) conduct of the applicant in the investigation; (b) the role played by the applicant in case the alleged default is committed by a group of persons; (c) nature, gravity and impact of alleged defaults; (d) whether any other proceeding against the applicant for non-compliance of securities laws is pending or concluded; (e) whether the alleged default is minor or major in nature; (f) the extent of amount of harm and/or loss to investors and/or gain by the applicant; (g) processes which have been introduced since the alleged default to minimize future defaults or lapses; (h) compliance schedule proposed by the applicant; (i) economic benefits accruing to any person from the non-compliance or delayed compliance; (j) conditions which are necessary to deter future non-compliance by the same or another person; (k) satisfaction of claim of investors regarding payment of money due to them or delivery of securities to them; (l) whether the applicant has undergone any other enforcement action for the same violation; (m) any other factors necessary in the facts and circumstances of the case.