The Securities and Exchange Board of India (“SEBI”), through a circular dated 22nd January, 2020, has made changes to the penalties that are to be levied for violating SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Principal Regulations”) and the Standard Operating Procedure (“SOP”) that is to be followed by the Recognized Stock Exchange (“SE”), in case of non-compliance of the Principal Regulations.
This Circular shall come into force with effect from compliance periods ending on or after March 31, 2020. It may be noted that the SoP circular dated May 03, 2018 would be applicable till the time current SoP circular comes into force.
Please refer to the hyperlink below for a detailed read of the notification. The action to be taken in case of non-compliances of specific regulations is provided in Annexure I and the SOP to be followed by the SE in case of violation of the Principal Regulations is provided in Annexure II, of the notification.