Brazilian and Colombian Air Forces Train Together in COLBRA IV to Fight Drug Trafficking

first_imgColombia mobilized A-37 Dragonfly (fighters) and SR-560 Citation (air defense) airplanes, as the two sites collectively logged about 40 flight hours. Prior to the current NBDA, the BAF and CAF conducted two COLBRA exercises – the first in 2005 and the second in 2007. The third was held in 2009, after the standards were released. The last set of exercises had the same bearing and mobilization of personnel as 2007, according to Lt. Gen. Egito do Amaral. “Conducting this reconnaissance is a routine task for BAF units located along the border, and this determines the success of our efforts against drug trafficking and other crimes,”. Colombian authorities mobilized squadrons from the 2nd and 3rd Air Combat Command (CACOM-2 and CACOM-3) and the Amazonas Air Group (GAAMA, for its Spanish acronym). Arara (1º/9º Aviation Group (GAV), in Manaus, Amazonas); Combined exercises between the Brazilian Air Force (BAF) and the Air Forces of neighboring countries strengthen their cooperative efforts in the fight against drug trafficking and other crimes in border zones. They conducted their maneuvers in the Amazon region, which has dense vegetation and low population density. The airplane is well-suited to the characteristics of the Amazon region, which often has unpredictable weather that poses logistical difficulties, according to the Comdabra, which plans and mobilizes BAF personnel on missions with other countries as well. Brazil also conducts operations like COLBRA with Air Forces from Argentina, Bolivia, Paraguay, Peru, Uruguay, and Venezuela. The air space was off limits to civilian flights during the maneuvers; guidance was released to civilians and Military alike via Notam (Notice to airmen) messages issued by air traffic control, according to the Brazilian Aerospace Defense Command (Comdabra, for its Spanish acronym). Likewise, Colombian air traffic controllers worked at the Military Operations Center 4 (COPM4) in Manaus. The simulation exercises tested the ability of Air Force personnel from the two countries to detect, intercept, and escort Air Traffic of Interest (TAI, for its Spanish acronym) as part of the effort to combat transnational crime he added, “Air Traffic of Interest refers to aircraft making allegedly irregular flights in the air space between Brazil and Colombia,” Cobra (7º Air Transport Squadron (ETA), in Manaus); Brazilian and Colombian air traffic controllers visit each others’ facilities During the program, BAF or CAF planes simulate a typical TAI flight by flying at a low speed and altitude. “The methods and means used are the same as those that the two forces use in planning air defense every day, meaning that the operation simulates detecting and escorting aircraft that might be intercepted on any given day,” Lt. Gen. Egito do Amaral said. DASG provided logistical support, lodging, and meals to service members who participated in the operation, and also made sure the airstrips they used were properly maintained. BAF air traffic controllers spent time during the operation at the GAAMA base in Leticia. The Brazilian team was comprised of the following squadrons: For their part Brazil mobilized A-29 Super Tucano (air defense), C-98 Caravan (logistical air transport), E-99 (flight control and alarm), and C-97 Brasília and C-105 Amazonas (mobilization and demobilization) airplanes, as well as H-60L Black Hawk helicopters (search and rescue), in case there was an accident during the mission, but the helicopters didn’t need to be utilized. Air reconnaissance Escorpião (1/3° GAV in Boa Vista, Roraima); The most recent example of joint training includes COLBRA IV, in which Brazilian and Colombian Air Force (CAF) personnel mobilized for simulated exercises at points up 90 kilometers from each side of the Brazil-Colombia border between July 13-17. FAC conducts actions with other activitiescenter_img Air Force authorities chose the Caravan to maximize the safety of the COLBRA IV participants in case they had to land on different types of air strips, such as grass, pebbles, or short strips that could be 800 meters in length. Harpia (7º/8º GAV in Manaus). “Control over air spaces is critical in the fight against the traffic of drugs between the two countries,” BAF Lieutenant General Antonio Carlos Egito do Amaral, Comdabra’s commanding officer, said. The exercise was based on the Brazil-Colombia Binational Aerospace Defense Standards (NBDA number 1 BR/CO), which became operative on June 3, 2009, and govern the regular coordination and cooperation procedures to control irregular air activity along the border between the two countries. “The goal is to share experiences and standardize procedures across different levels of operation,” Lt. Gen. Egito do Amaral added and “Experiences are shared, but without ever passing along classified information, which could affect Air Force actions on routine missions. Radar data are not shared with other countries, since they are for the exclusive use of Brazil in defending and controlling air traffic.” COLBRA IV has successfully promoted technical exchanges between personnel in the two Air Forces; Brazilian pilots and flight controllers performed exercises with Colombian counterparts units, and vice versa. Transnational criminal organizations often use the region’s airspace to transport drug loads, making cooperation between Colombian and Brazilian security forces crucial in the fight to stop narco-flights. One of COLBRA IV’s high points was the simulation of TAI identification when service members engaged in flight control and air defense maneuvers against unknown aircraft. Responding to TAIs is a key component of the COLBRA IV training. On the Brazilian side, the exercise was carried out from the São Gabriel da Cachoeira Detachment (DASG, for its Spanish acronym), the airbase of which is 852 kilometers from Manaus, the state capital of Amazonas. Lt. Gen. Egito do Amaral said “They were able to observe the control and defense techniques used by our neighbor,” . In Colombia, Air Force members conducted exercises at the CAF’s Amazonas Air Group (GAA, for its Spanish acroynm) structure. During this part of the operation, the CAF employed a C98 Caravan in an incursion into Colombian territory. The C98 was detected by a Colombian SR-560 Citation and intercepted by an A-37 Dragonfly fighter. After completing the action in Colombia’s air space, the simulated enemy aircraft from the BAF repeated the simulated incursion on the Brazilian side. Guardião (2º/6º GAV in Anápolis, Goiás); As part of its fight against transnational criminal organizations, the BAF collects intelligence on the air routes used by drug traffickers and the landing strips they often use. “In real-life situations, the aircraft is identified and interrogated,” he added, “If it is an irregular flight, it is ordered to change course to land at an airport controlled by air defense forces. After landing, police and Federal Revenue authorities board it, check the cargo, and make arrests if the cargo is illegal.” “[COLBRA] is a very important operational exercise to improve our training on fighting crime and acquiring great experience like that of the Brazilian Air Force in international exercises,” Amazonas Air Group Commanding Officer Jairo Orlando Orjuela Arélavo said. By Dialogo September 02, 2015 I am very sorry about the events around the world, but all I can do now is pray to God on behalf of our (incomprehensible), that God look over them. However, I can’t do anything because the crisis has affected my family and my life as well. Congratulations, beautiful report The CAF conducts similar exercises with Guatemala, Honduras, the Dominican Republic, Peru, Ecuador, Panama, the U.S., and Venezuela. Simulated suspicious flights Brazil is scheduled to engage in additional training when PERBRA, which is similar to COLBRA, will be conducted with Peru from August 24-28, marking the countries’ fifth training operation together, Lt. Gen. Egito do Amara concluded.last_img read more

Family moves to forest to avoid stigma after being examined for COVID-19

first_imgAccording to the Health Ministry’s coronavirus readiness guideline, people who live in places with confirmed COVID-19 are also categorized as ODP.People who are under general monitoring are told to self-quarantine at home for two weeks.Agustin said that, ever since they became ODP, people stopped coming to the small grocery store in their house.Furthermore, he said, when government aid was distributed in the neighborhood, they were the only family that did not get the assistance.“We feel alienated. We preferred the idea of living in the woods to being left out,” he said.The death of a neighbor from COVID-19 shocked the family added to their decision to temporarily leave their house.“When the COVID-19 patient in our village died, I was so scared that my body trembled. That was when we decided to live in the forest,” Agustin said.The three have lived in two locations in the forest. At first, they lived near a riverbank. However, fearing that the water could rise, they moved to a higher place, still in the river area.“We’ve been isolating ourselves here [in the forest] for a week. Though it’s cold out here and there are many mosquitos, we feel more relaxed here, because living in our house, we got anxious about the stigma,” said Agustin. (aly)Topics : With a car parked and a tent erected, the family has spent the past week in isolation, away from its neighbors.Agustin said they had made the decision following a change in attitude among their neighbors after North Minahasa Health Agency personnel had come to their house wearing protective gear to examine them on April 11, a day after their next-door neighbor died from COVID-19.The agency categorized them as ODP cases, those who have recently traveled to infected regions or come in contact with confirmed COVID-19 patients but do not show any symptoms. That status differs from the PDP status given to people who already show symptoms typical of COVID-19 and are in medical care but whose status needs to be confirmed through a test.“It is probably because our house is close to a COVID-19 patient’s house that we were declared as ODP,” Agustin told The Jakarta Post on Friday. A family in North Sulawesi’s North Minahasa regency has been living in the local forest for a week out of fear of being stigmatized after being tested for COVID-19.Agustin Sigarlaki, his wife Elly Lasahaeng and their youngest child, Meilany, found solace out in the wild, away from what they described as being stigmatized by their neighbors in Wineting village.last_img read more

Ripley County drug dealers rack up 94 years in prison sentences so far in 2019

first_imgFrom left: Batesville Police Detective Blake Roope, Chief Stan Holt and Prosecutor Ric HertelVersailles, In. —Entering his 21st year as Ripley County prosecutor Ric Hertel is sending a clear message to those who peddle drugs with his recent actions. Hertel said, “In my experience of prosecuting and trying drug cases, this is the message the community is sending to me-possession is a crime and will be prosecuted, but drug dealers are the bigger problem and should be dealt with as such.”As of February 19, 2019 multiple drug dealers have been sentenced to lengthy prison sentences.On January 15, 2019, Betty Richards was convicted of possession with intent to deliver methamphetamine and sentenced to 12 years in prison. At the sentencing hearing, evidence was presented that Richards had about 8 grams of methamphetamine in her Versailles home and was actively selling methamphetamine. The transactions were done in a bedroom she shared with her grandchildren sometimes.On the same day, Andrew Dailey was sentenced to 10 years in prison for a second felony dealing in methamphetamine charge. Court documents in that case show Dailey had a handgun when he delivered methamphetamine to a house in Milan where two children were present. Two years of the sentence was suspended to probation.On January 31, 2019, Nathan Strickling was convicted of possession with intent to deal methamphetamine and was sentenced to 30 years in prison, 20 years suspended to probation. Court documents say Strickling delivered individually packaged methamphetamine to a residence in Milan. A forensic investigation of his cell phone determined had conducted frequent drug transactions.Also on January 31, Joseph Macvey was convicted of dealing in a schedule I, II, or III controlled substance and sentenced to 12 years in prison, 4 years suspended to probation. Macvey and Nathan Strickling were both found at the Milan residence. A forensic analysis of Macvey’s cell phone revealed he was actively selling prescription pills.On February 5, Teresa (a.k.a “Sis) Thornton (Teeters) was sentenced to 10 years in prison as a repeat offender for dealing a narcotic drug and being a habitual offender. Court documents say Thornton dealt prescription pills, specifically oxycodone, from her apartment in the Sunman/Milan area.  During the investigation, Thornton admitted to selling drugs on multiple occasions. She was on probation for a Dearborn County drug violation when she was arrested.On February 12, 2019, Doug White was sentenced to 20 years in prison as a repeat offender for possession with intent to deliver methamphetamine. Court documents say White had approximately 26 grams of methamphetamine that he admitted was intended for future distribution.last_img read more

Assam in semis at Junior National Sepak Takraw Championship

first_imgOur Sports ReporterGUWAHATI: Assam entered into the semi-finals in both boys and girls sections in Regu event of the Junior National Sepak Takraw Championship at the Deshbhakta Tarun Ram Phukan Indoor Stadium here today.In the boy’s semifinal, Assam will face Delhi while Mizoram will clash against Bihar. In the girl’s section, Assam will play against Nagaland while Uttar Pradesh to face Odisha in the second last four games.last_img

Nation Brand Forum 2017 inspires robust discussion and debate

first_imgThe Brand South Africa Nation Brand Forum 2017 again gathered business, government and media experts to discuss the marketing of the country’s national global reputation in light of recent geopolitical and global economic changes. The event was addressed by Communications Minister Ayanda Dlodlo.Communications Minister Ayanda Dlodlo addresses Brand South Africa’s Nation Brand Forum 2017 in Johannesburg on 5 October 2017. (Image: SA Government Flickr)CD AndersonThe Nation Brand Forum is aimed at creating an open platform for engagement between the government, business and civil society for the development of new ideas that will improve the global perception of the country. The theme of this year’s forum, held in Johannesburg on 5 October, was “Positioning the South African nation brand in an era of emerging market globalisation”.The forum was opened by Brand South Africa CEO Dr Kingsley Makhubela, with a welcoming address by Communications Minister Ayanda Dlodlo. There were two panel discussions that put forward a number of new thoughts on nation branding and global perceptions.Brand builderDlodlo began by paying tribute to late anti-apartheid struggle stalwart Oliver Tambo. In a year in which the country celebrates Tambo’s 100th birthday, Dlodlo said it was appropriate to remember him and his legacy as a leading nation brand builder for South Africa.“It is both fitting and inspiring to recognise his role as the foremost brand architect of our new nation and country… We must be inspired by the ideals that prompted him as an ardent campaigner for human rights, an internationalist and an activist for peace and prosperity… Oliver Tambo spent his entire life pursuing the dream of building solidarity between South Africa and the world.”She also highlighted the importance of the National Development Plan’s Vision 2030, the country’s long-term socio-economic development roadmap, in developing the South African nation brand.“The [National Development Plan] envisions a South Africa where everyone feels free yet bounded to others, where everyone embraces their full potential, a country where opportunity is determined not by birth, but by ability, education and hard work… To ensure that this vision becomes a reality, we are making strides through efforts such as the Nation Brand Forum to collectively implement measures that promote the transformation of the economy and focused efforts that build the country’s capabilities, thus resulting in a reputable nation brand that attracts investment.”Communications Minister Ayanda Dlodlo addresses Brand South Africa’s Nation Brand Forum 2017 in Johannesburg on 5 October 2017. (Image: SA Government Flickr)Dlodlo also made special mention of the relationship between the government and the private sector, and how business’s important role in the country’s socio-economic growth and sustainability should not be underutilised: “The private sector not only raises South Africa’s global competitiveness by allowing us to break into new and emerging markets, but it also significantly improves the lives of millions of poor South Africans and their chance for economic participation.”Concluding her address, the minister reiterated the importance of the economic development of the country and all its people for successful nation branding: “If the economy grows, jobs are created, social levels improve, foreign direct investments become a reality and the economy thrives. Therefore, it is unquestionable that socio-economic national development agendas have an incredible impact on the positive [nation] branding.“Through this forum we are therefore aiming to create an intensified exchange of ideas among all sectors of society. This is a fundamental requirement for appropriate and sustainable development for any nation.”For a full transcript of Minister Dlodlo’s address, click here. Communications Minister Ayanda Dlodlo and Brand South Africa CEO Dr Kingsley Makhubela at Brand South Africa’s Nation Brand Forum, held in Johannesburg on 5 October 2017. (Image: SA Government Flickr)Panel 1: Positioning the South African nation brand in an era of emerging market [email protected]: If South Africans talk their country down by extension they talk down the country’s products #NationBrandForum17 cc @Brand_SA pic.twitter.com/dwVwlsftC4— The eNitiaters (@The_eNitiaters) October 5, 2017The first panel was led by Brand South Africa general manager for research Dr Petrus de Kock, with contributions from Annabel Bishop, chief economist at Investec; Dr Martyn Davies, managing director for emerging markets at Deloitte; Eric Mahamba-Sithole, head of learning and development at the Industrial Development Corporation; and SAfm radio host Ashraf Garda.Watch the discussion:Panel 2: Country of origin built on the foundations of business excellence – crafting a value proposition and global strategy for a nation brand#NationBrandForum17 Panel 2 discussion focuses on crafting a value proposition & global strategy for National Brand in emerging markets pic.twitter.com/NX8sbehRqq— South African Gov (@GovernmentZA) October 5, 2017The panel was hosted by Jeremy Sampson, director of Brand Finance Africa, and included contributions from Imtiaz Patel, CEO of Naspers Video Entertainment; M&C Saatchi Abel Johannesburg group chairman Jerry Mpufane; Odette van der Haar, CEO of the Association for Communication and Advertising; and York Zucchi, entrepreneur and motivational speaker.Watch the discussion:Would you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

Größter Cachebehälter Österreichs? (GC35Q1C) — Geocache of the Week

first_imgGeocache Name:Größter Cachebehälter Österreichs? by artig&holdDifficulty/Terrain Rating:1/2Why this is the Geocache of the Week:“Größter Cachebehälter Österreichs” means Biggest Cache Container in Austria…which this one may very well be, depending on how you define ‘cache container’.  Geocachers who arrive at GZ find themselves standing in front of wood-gated door in an old brick wall. Hidden somewhere nearby is the trick to unlocking the door, after which is you follow a set of narrow stone stairs that descend down to blackness.Depending on what kind of geocacher you are, it’s either eerie or exciting (or maybe a bit of both) to climb down those stairs, but geocachers who do are treated to a first class logging experience. At the bottom of the stairs is an old wine cellar, now home to an old desk and chair, an assortment of drippy candles, various swag items, and of course…the logbook. If you listen carefully you may hear the ghost of a pinot noir calling you from the darkest corners of the cellar.What geocachers have to say:“Einen Cache dieser Art habe ich noch nie gesehen: begehbar, sehr geräumig und wohltemperiert. Wirklich etwas Besonderes und einen kleinen Umweg wert.” –sunflower2012I’ve never seen a geocache like this one: accessible, spacious, and of a comfortable temperature. Really something special, and totally worth a small detour. “Von diesem Cache hatte ich schon gehört… heute war ich endlich mal in der Nähe und wollte mir diesen nicht entgehen lassen. Nach einer kurzen Suche wusste ich auch wie ich hineinkomme 😉 Das war wirklich eine willkommende Abkühlung heute! Schön gemacht! Ich nehme einen Coin mit auf die Reise und hinterlasse einen FP! Danke für´s “Verstecken”, Zeigen und Herrichten sagen Die Glücksmagneten.” –Die GlücksmagnetenI’d heard about this cache…today I was finally in the area and couldn’t miss it. After a short search I figured out how to get inside. This was really a welcome cooling-off today! I’m taking a coin with me on my travels, and leaving behind a favorite point! Thank you for “hiding”, sharing, and organizing.”“Ich war schon sehr neugierig und konnte es kaum erwarten den Cache zu finden. Und dann diese Überraschung. So toll und schön gemacht. War mir eine Ehre mich hier zu verewigen. Bekommt auf jeden Fall einen ganz dicken Favi.” –EllannaI was very curious about this cache and could hardly wait to find it. And then this surprise! So amazing and well-made. It was an honor to be here. Absolutely getting a big fat favorite point.What the cache owner has to say:What inspired you to hide the cache here?We always wanted to make some kind of a special cache. Not another film canister behind a traffic sign. 😉 We then had the opportunity to buy this small property opposite of our own wine cellar. And there was this damaged old wine cellar on it. As we did not want this old wine cellar to get completely rotten, so we renovated it. We had no real need for it, so my wife and me decided to try to make a cache out of it. We always sad, as long as no one damages something we will have a cache there. Just once we had some children finding the way to enter the cache and they spread the log book, but it was easy to repair it. And a other funny story happened when a cacher found the key to another wine cellar in the area, but that is another story. We have now some years without damage, and the cache is still alive.How old is the cellar in which the cache is hidden? Are there many in the area?No one knows how old those wine cellars are. In former days in our area nearly every house of a village had its own wine cellar. So there are quite some in the area. The local farmers dug them in winter time, but it was not written down when and from whom. The estimation is that they are some 200-300 of years old.What has been your reaction to all of the nice logs and Favorite Points?Of course it is a big pleasure to read all those nice logs and the see the Favourite Points coming in. ☺Is there anything you’d like to say to the geocaching community?We hope to see many more cachers visiting our cache. If you see some people opposite of the cache – don’t be shy it’s maybe us. If we are there we are happy to have some glass of wine and a chat with you!Photos: SharePrint RelatedWinner Winner Geocache Dinner! — Wheel of Fortune … Spins (GC282CQ) — Geocache of the WeekSeptember 25, 2014In “Geocache of the Week”Nananananananana BATMAN! — Batman’s Batcave (GC8413) — Geocache of the WeekDecember 11, 2013In “Community”History and beauty in one spot — SS: Lusitania (GC2D9WC) — Geocache of the WeekApril 30, 2015In “Geocache of the Week” Share with your Friends:Morecenter_img Some cache owners go above and beyond to make finding and logging their cache an experience. What’s your best experience?Continue to explore some of the most engaging geocaches around the globe. Check out all the Geocaches of the Week on the Geocaching blog. If you would like to nominate a Geocache of the Week, just fill out this form. Thanks!last_img read more

India will win the Test series in Australia: Amarnath

first_imgFormer Indian World Cup winner and national team selector Mohinder Amarnath said Virat Kohli & Co.’s morale is very high after starting on a winning note in the series Down Under and pegged them to become the first travelling Indian side to clinch the coveted Border-Gavaskar trophy.”I think it’s a great start to the series for the team. There’s nothing like starting with a win in an overseas condition, which doesn’t happen normally,” said the 68-year-old all-rounder on the sidelines of an event where ICC announced Royal Stag as sponsors for five years in NEw Delhi on Wednesday.”Things now depend on the nature of the wickets that we will get to see later in the series but India will always have an advantage and will definitely win the series.”Amarnath, however, still cautioned not to take the budding Australian team lightly given the quality some of their players have showcased in the first Test.”If you look at the first Test winning margin, it came really close. For a moment many thought India might lose. Indian team is certainly better compared to the inexperienced batting line-up of the Australians, but their bowling still is pretty decent.”The team is currently in the building stage and some of their players have shown that they can pose a threat. The series won’t be a cakewalk for India, we will get to see some close battles,” the former Indian cricketer said.Amarnath also heaped praise on Cheteshwar Pujara for his batting display in the Adelaide Test (which included a century and 71 run innings) and said other Indian batsmen should take a note from that and need to focus on their technique.”Pujara’s both the innings in the first Test were classic examples on how to build an inning in overseas conditions. I feel some of the batsmen need to work on their strokeplay and technique. Given it was their first game, we can still hope that the more they play on these tracks, the more they get used to the conditions.There’s much talk about the pace-friendly surface of the Optus Stadium in Perth, where the next game will be played, and some experts have already suggested Australians bowlers will be at their threatening best on the new turf. However, Amarnath opined visiting pacers will be at an advantage too over their Aussie counterparts given they have been more impressive in the first game.”Indian bowlers have an advantage over the Australian bowlers on the fast pitch of Perth because they were more disciplined in their line and length compared to their Australian counterparts and Ashwin being in good form also gives that extra variation. However the real test will be for the Indian batsmen who are more suited to play on slow wickets,” Amarnath concluded.advertisementAlso See:last_img read more

10 months agoLazzari backing Muriel for big Fiorentina success

first_imgTagsTransfersAbout the authorCarlos VolcanoShare the loveHave your say Lazzari backing Muriel for big Fiorentina successby Carlos Volcano10 months agoSend to a friendShare the loveFormer Fiorentina star Andrea Lazzari says fans will enjoy new signing Luis Muriel.The attacker has arrived on-loan from Sevilla.“Luis can make Florence fall in love,” Lazzari told Radio Bruno Toscana.“He has the characteristics of a champion. His movement is reminiscent of Cristiano Ronaldo, though I don’t think it’s fair to compare the two.“I don’t see him as an out-and-out striker, I prefer it when he plays a bit further from the goal. That’s the area of the pitch where his qualities shine best.“He’s also a good lad who gives everything in training and is really committed.” last_img read more

Bank of Canada estimates 60000 fewer jobs due to minimum wage increases

first_imgOTTAWA – The Bank of Canada estimates there will be about 60,000 fewer jobs by 2019 due to the increases in minimum wages across the country, but that labour income will be higher due to the increases.In examining the impact of the wage increases, the report estimated that the consumer price index could be boosted by about 0.1 percentage points on average and real gross domestic product could be cut by 0.1 per cent by early 2019.The number of jobs lost was based on a 0.3 per cent decline in the number of hours worked, while aggregate real wages were estimated to increase 0.7 per cent.The research paper by the staff at the central bank noted that if the average working hours declined following the increase in the minimum wage, the number of jobs lost would also be lower.The Bank of Canada estimated that about eight per cent of all employees work at minimum wage, a proportion that increases to 11 per cent if a threshold of five per cent above minimum wage is used.Ontario raised its minimum wage to $14 per hour on Jan. 1 from $11.60 and plans to increase it to $15 in 2019, while Alberta is expected to raise its minimum wage to $15 later this year.last_img read more

Sebi proposes amendments to norms governing SROs

first_imgNew Delhi: Markets regulator Sebi Monday proposed amendments to norms governing Self Regulatory Organisations, including recognising such entities on a nomination basis. Coming out with a consultation paper, the watchdog said that an SRO would be defined as an organisation of intermediaries or an entity promoted by a stock exchange, recognised by the board.A Self Regulatory Organisation (SRO) is considered as the first level regulator. “As per the proposed process, instead of inviting applications, Sebi would recognise an entity as an SRO on nomination basis, after conducting due diligence,” the regulator said. Also Read – Thermal coal import may surpass 200 MT this fiscalSebi proposes to constitute a nomination committee to consider and give recommendation to the regulator regarding the suitability of an organisation or entity to be recognised as an SRO. The committee will comprise external experts and will preferably be headed by a retired judge of a High Court or Supreme Court. Sebi also said the recognition of an SRO may be on permanent basis subject to certain conditions. The paper further suggested that a governing board may consist of elected Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boostrepresentatives of members of SRO public interest directors nominated by Sebi and shareholder directors. The general superintendence, direction and management of the affairs of the Self Regulatory Organisations will vest in the board and its creation, composition and functions will be specified by Sebi from time to time, it added. The SRO shall provide for a dispute resolution mechanism including arbitration to settle disputes between investors and its members and disputes between its members.last_img read more