Larger public purpose would stand defeated if violators are allowed to go scot-free just because of delay in initiating action: SEBI ...Middle East

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Larger public purpose would stand defeated if violators are allowed to go scot-free just because of delay in initiating action: SEBI
New Delhi: Markets regulator SEBI has said in an order that the larger public purpose of investor protection would stand defeated if the violators are allowed to go scot-free just because of delay in initiating action against them. The SEBI said this in an adjudication order where it imposed a penalty of Rs 2 lakh on Williamson Magor and Company Ltd (WMCL). “It is to be noted that the SEBI Act, 1992, and the regulations framed thereunder, have got a larger public purpose in the form of investor protection and the regulation and development of the securities market. These purposes would stand defeated if the violators are allowed to go scot-free just because of a delay in initiating action a

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