Section 15HAA of SEBI Act

Question 1

Is this a new section added in SEBI Act ?

Answer 1

YESSS , through Finance Bill of 2019

Question 2

What is it related to ?

Answer 2

Giving SEBI new powers to act against entities that tamper or destroy electronic databases or fail to furnish info when sought by capital markets regulator

Question 3

What is the penal punishment ?

Answer 3

Upto 10cr or 3 times the unlawful gain (whichever is higher)

Question 4

Penalties on brokers ?

Answer 4

Upto 1cr