Regulation 17 - Right of inspection by the Board. - Securities and Exchange Board of India (Intermediaries) Regulations, 2008

CHAPTER IV INSPECTION AND DISCIPLINARY PROCEEDINGS Right of inspection by the Board. 17. (1) Without prejudice to the provisions of section 11 and section 11C of the Act, the Board may appoint one or more persons as inspecting authority to undertake the inspection of the books, accounts, records including telephone records and electronic records and documents of an intermediary for any purpose, including the purposes as specified under sub-regulation (2). (2) The purposes referred to in sub-regulation (1) may include:- (a) to ensure that the books of account, records including telephone records and electronic records and documents are being maintained in the manner required under the relevant regulations; (b) to ascertain whether adequate internal control systems, procedures and safeguards have been established and are being followed by the intermediary to fulfill its obligations under the relevant regulations; (c) to ascertain whether any circumstances exist which would render the intermediary unfit or ineligible; (d) to ascertain whether the provisions of the securities laws and the directions or circulars issued thereunder are being complied with; (e) 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 intermediary; (f) to inquire suo motu into such matters as may be deemed fit in the interest of investors or the securities market.