Sebi forms 4-member high powered advisory committee on settlement orders

Capital markets regulator Sebi has constituted a four-member high powered advisory committee on settlement orders and compounding of offences. The committee will be chaired by Vijay C Daga, retired judge of High Court of Bombay, according to an update with the Securities and Exchange Board of India (Sebi) on Tuesday. The other members of the panel are - former law secretary in Ministry of Law & Justice, PK Malhotra; ex-Chairman of Deloitte Haskins & Sells LLP PR Ramesh and DN Raval, Partner at Raval & Raval Associates. The panel will work as per the Settlement Proceedings Regulations, 2018 specified by the regulator. Under the settlement mechanism, an alleged wrongdoer can settle a pending case with the regulator without admission or denial of guilt by paying a settlement fee. The settlement mechanism is a tool for ensuring speedy and efficient resolution of disputes. In September, Sebi had proposed to overhaul the rule governing consent settlements to make the system more

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