Sebi speeds up adjudicating proceedings to clear backlog of cases

Finance Bill 2017 has helped in fast-tracking of cases as it cleared the ambiguity regarding the discretionary powers of Sebi

The Securities and Exchange Board of India (Sebi) has begun hastening the passing of adjudicating orders to clear the backlog of cases that had piled up over the past couple of years, following uncertainty over its powers to impose discretionary penalties.

The market watchdog has also expanded its team of adjudicating officers (AOs) to 11, from five less than a year ago, said a person familiar with the matter.

“More AOs will help clear the backlog created on account of the Roofit matter. Additional AOs may also expedite the process of passing orders. But, to provide impetus to the whole process of