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TMI BlogSecurities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2003X X X X Extracts X X X X X X X X Extracts X X X X ..... 2003. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992- a. For the existing Schedule III, the following schedule III shall be substituted, namely: - SCHEDULE III Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 [Regulation 13] CODE OF CONDUCT FOR MERCHANT BANKERS 1. A Merchant Banker shall make all efforts to protect the interests of investors. 2. A Merchant Banker shall maintain high standards of integrity, dignity and fairness in the conduct of its business. 3. A Merchant Banker shall fulfill its obligations in a prompt, ethical, and professional man ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f performing for any client or has rendered to any client. 11. A Merchant Banker shall avoid conflict of interest and make adequate disclosure of its interest. 12. A Merchant Banker shall put in place a mechanism to resolve any conflict of interest situation that may arise in the conduct of its business or where any conflict of interest arises, shall take reasonable steps to resolve the same in an equitable manner. 13. A Merchant Banker shall make appropriate disclosure to the client of its possible source or potential areas of conflict of duties and interest while acting as Merchant Banker which would impair its ability to render fair, objective and unbiased services. 14. A Merchant Banker shall always endeavor to render the be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions, its clients, investors and other registered entities from financial loss arising from theft, fraud, and other dishonest acts, professional misconduct or omissions. 20. A Merchant Banker shall not make untrue statement or suppress any material fact in any documents, reports or information furnished to the Board. 21. A Merchant Banker shall maintain an appropriate level of knowledge and competence and abide by the provisions of the Act, regulations made thereunder, circulars and guidelines, which may be applicable and relevant to the activities carried on by it. The merchant banker shall also comply with the award of the Ombudsman passed under Securities and Exchange Board of India (Ombudsman) Regulations, 2003. 22. A Merchant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... their duties, Such a code may extend to the maintenance of professional excellence and standards, integrity, confidentiality, objectivity, avoidance or resolution of conflict of interests, disclosure of shareholdings and interests etc. 27. A Merchant Banker shall ensure that good corporate policies and corporate governance are in place. 28. A Merchant Banker shall ensure that any person it employs or appoints to conduct business is fit and proper and otherwise qualified to act in the capacity so employed or appointed (including having relevant professional training or experience) 29. A Merchant Banker shall ensure that it has adequate resources to supervise diligently and does supervise diligently persons employed or appointed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia (Merchant Bankers)(Amendment) Regulations, 1996 vide F.No. SEBI/LE-I/9/95; (d) on December 9, 1997 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1997 vide No. S.O, 837 (E); (e) on January 21, 1999 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999 vide No. S.O. 74 (E). (f) on September 30, 1999 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999 vide No. S.O. 799(E). (g) on November 17, 1999 by Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 1999 vide No. S.O. 1119(E). (h) on March 28, 2000 by Securities and Exchange Board of India (Appeal to Securities ..... X X X X Extracts X X X X X X X X Extracts X X X X
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