The Securities and Exchange Board of India (Sebi) has launched a beta version of a settlement calculator for arriving at the indicative settlement amount, in a move to simplify and provide more transparency in the system.
According to the settlement mechanism, an alleged wrongdoer can settle a pending probe with Sebi without the admission or denial of guilt by paying such settlement amount.
Currently, an applicant has to arrive at the indicative amount (IA) in the application based on its own estimate in accordance with the various factors identified under the regulations. The beta version of the settlement calculator is available on Sebi’s website, the regulator said in a press release on Thursday.
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This settlement calculator contains fields that an applicant may identify in terms of the violations, and helps select the appropriate options with respect to its past regulatory track record, which includes details of actions by Sebi as well as other ongoing proceedings.
However, Sebi’s high-powered settlement committee will arrive at the settlement amount “in cases where the formulae for calculating the IA are inapplicable or cannot be adapted due to the peculiar nature of the default…or where the defaults detailed in the tables in these guidelines are not covered,” Sebi said.
Further, even if an indicative settlement amount is arrived through the calculator, the Sebi settlement committee has the discretion to modify or levy non monetary settlement terms wherever needed.Come from Sports betting site
For the ease of understanding the process of arriving at the indicative settlement amount, Sebi has included a user-friendly guide video in the settlement calculator.
