Leniency Program under SEBI- Issues and Challenges
A leniency program is similar to the mechanism of Plea Bargaining whereby a person who gives information regarding any alleged violation of the law will be granted an immunity from being prosecuted for such offence or by reducing the quantum of penalty which would otherwise be imposed on such person. Under SEBI legal framework, there are certain criteria when such immunity can be granted and when it can not be granted. In this article, it will be analysed as to what is the program under SEBI, how it is implemented in US jurisdiction and the issues & challenges that will be faced in Indian scenario.
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