Capital markets regulator SEBI has tightened some rules for its employees. After this strictness, SEBI will be able to deal with the irregularities and corrupt activities of its employees. The Securities and Exchange Board of India (SEBI) has amended the rules governing the services of its employees for this. According to the language news, under this, a competent authority can directly recover the amount from the concerned employee to compensate the financial loss caused to SEBI under the law. This amount can be taken from the employees’ salary and other money received by them.
Will also apply to resigned employees
According to the report, according to SEBI, this step can be taken when an employee has allegedly acted for an improper purpose or in a corrupt manner or has exercised his powers with corrupt intentions. The market regulator, in its notification dated May 6, said the new system will also be applicable to those employees who have resigned or retired or have completed their tenure on deputation. New rules have come into effect.
Gratuity can be withheld
Under the rules amended by SEBI, during the pendency of any proceedings initiated against an employee, the gratuity received by the concerned employee can be stopped in whole or in part. However, if the employee is found innocent after completion of the proceedings, gratuity will be paid.
Earlier, the Securities and Exchange Board of India (SEBI) has rejected the proposal of the National Stock Exchange (NSE) to extend the market hours in the derivatives segment. It is reported that due to lack of consensus among the broker community, SEBI has withdrawn the exchange’s proposal to extend trading hours.
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