9911796707
TMI BlogSecurities and Exchange Board of India (Depositories and Participants) (Third Amendment) Regulations, 2003.X X X X Extracts X X X X X X X X Extracts X X X X ..... s and Participants) (Third Amendment) Regulations, 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 (Depositories and Participants) Regulations, 1996 - a. After Regulation 20, before Regulation 21, the following new Regulation shall be inserted, namely: - Participants to abide by Code of Conduct 20A The Participant holding a certificate shall, at all times, abide by the Code of Conduct as specified in Third Schedule . b. After SECOND SCHEDULE, the following THIRD SCHEDULE shall be inserted, namely : -- THIRD SCHEDULE Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 [R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... other Participants in a disadvantageous position while competing for or executing any assignment. 8. A Participant shall not make any exaggerated statement whether oral or written to the clients either about its qualifications or capability to render certain services or about its achievements in regard to services rendered to other clients. 9. A Participant shall not divulge to other clients, press or any other person any information about its clients which has come to its knowledge except with the approval / authorisation of the clients or when it is required to disclose the information under the requirements of any Act, Rules or Regulations. 10. A Participant shall co-operate with the Board as and when required. 11. A Particip ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... electronic records and data, up-to-date back up is always available with it. 18. A Participant shall provide adequate freedom and powers to its compliance officer for the effective discharge of his duties. 19. A Participant shall ensure that it has satisfactory internal control procedures in place as well as adequate financial and operational capabilities which can be reasonably expected to take care of any losses arising due to theft, fraud and other dishonest acts, professional misconduct or omissions. 20. A Participant shall be responsible for the acts or omissions of its employees and agents in respect of the conduct of its business. 21. A Participant shall ensure that the senior management, particularly decision makers have ..... X X X X Extracts X X X X X X X X Extracts X X X X
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