Regulation 27 - Action on the inspection report - Securities and Exchange Board of India (Investment Advisers) Regulations 2013

Action on the inspection report. 27. The Board may after consideration of the inspection report and after giving reasonable opportunity of hearing to the investment advisers or its authorized representatives, issue such directions as it deems fit in the interest of securities market or the investors including,- (a) requiring an investment adviser 1 [ , partners, directors, principal officer and persons associated with investment advice ] not to provide investment advice for a particular period; (b) requiring the investment adviser to refund any money collected as fees, charges or commissions or otherwise to the concerned clients along with the requisite interest. (c) prohibiting the investment adviser 2 [ , partners, directors, principal officer and persons associated with investment advice ] from operating in the capital market or accessing the capital market for a specified period. ************* NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020