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Sebi proposes easing 'fit and proper' norms for mkt intermediaries
Business Standard
|February 05, 2026
The Securities and Exchange Board of India (Sebi) has proposed an overhaul of the ‘fit and proper person’ criteria for market intermediaries such as stock brokers, a move aimed at easing compliance burdens and reducing regulatory uncertainty, particularly for entities facing preliminary legal proceedings.
In a consultation paper issued on Wednesday, Sebi proposed doing away with automatic disqualifications arising solely from the filing of criminal complaints, FIRs, or charge sheets in cases involving economic offences.
The market regulator noted that these actions represent only the initial stages of criminal proceedings and that treating them as rule-based disqualifications may run counter to the principle of “innocent until proven guilty”.
This story is from the February 05, 2026 edition of Business Standard.
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