SEBI settles only 36 cases through consent orders in FY14

India Infoline News Service | Mumbai |

The regulator has collected about Rs. 4.15 crore as charges and fees through the consent settlement in 36 cases

The SEBI (Securities and Exchange Board of India) said that it has settled 36 cases through consent settlement mechanism in the last fiscal (FY14) as against 52 cases during the preceding financial year 2012-13.

The regulator has collected about Rs. 4.15 crore as charges and fees through the consent settlement in 36 cases, whereas it had collected around Rs. 12.62 crore through settlement in FY13.

The decline in the settlement cases is due to the strict norms imposed by SEBI. According to the new regulations, entities charged with serious offences like illegal money pooling, insider trading and fraudulent trades have been excluded from the settlement process. These norms were notified with retrospective effect from April 20, 2007 -- the day when SEBI's existing consent settlement system was introduced.

The SEBI had introduced the consent mechanism to cut down on its costs, time and efforts in taking up the enforcement actions.
 

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