The Securities and Exchange Board of India
The Securities and Exchange Board of India (SEBI) is the regulator for the securities market in India
“Its Basic function is to protect the interests of investors in securities and to promote the development, and to regulate the securities market and for matters connected there with or incidental there to”
The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.
SEBI has to be responsive to the needs of three groups, which constitute the market:
The issuers of securities
The market intermediaries.
Its headquarters at the business district of Bandra Kurla Complex in Mumbai (Maharashtra), and has Northern, Eastern, Southern and Western Regional Offices in New Delhi, Kolkata, Chennai and Ahmedabad respectively. It has opened local offices at Jaipur and Bangalore.
Management of the Board.
The Board shall consist of the following members, namely: –
(a) A Chairman;
(b) Two members from amongst the officials of the [Ministry] of the Central Government dealing with Finance
(c) One member from amongst the officials of [the Reserve Bank];
(d) Five other members of whom at least three shall be the whole-time members to be appointed by the central Government.
Chairman- Upendra Kumar Sinha
For the discharge of its functions efficiently, SEBI has been vested with the following powers:
– To approve by−laws of stock exchanges.
– To require the stock exchange to amend their by−laws.
– Inspect the books of accounts and call for periodical returns from recognized stock exchanges.
– Inspect the books of accounts of financial intermediaries.
– Compel certain companies to list their shares in one or more stock exchanges.