Sebi launches beta version of settlement calculator
Sebi) on Thursday launched a beta version of the settlement calculator to simplify the process of arriving at an indicative settlement amount.
The settlement calculator contains fields that the applicant may identify in terms of the violations.
It also enables the applicant to select the appropriate options with respect to their past regulatory track record on the basis of actions of Sebi as well as the details of other ongoing proceedings, if any, as on date of filing the settlement application, the regulator said in a release.
Sebi also said the indicative amount arrived at by the calculator may undergo changes depending on various factors to be considered by the internal committee of the regulator or the high powered advisory committee comprising of external experts or the panel of whole time members.
The indicative amount should not be less than ₹3 lakh for first-time applicants and for others it would be ₹7 lakh.
A first time applicant is a person against whom no order has been passed by the adjudicating officer or by Sebi or who has never obtained a settlement order from the regulator as on the date of the present application, it said.
Based on the stage at which the proceeding, for which the application is made, is pending, the proceeding conversion factor (PCF) would be applied when calculating the indicative amount.
Besides, in case of more than one proceeding arising from the same cause of action has been initiated against the applicant, the indicative amount would be increased by 20%.
The amount
