The functions of SEBI are carried out by a board of nine members including the chairman and eight members. In Quasi-Legislative, it forms rules and guidelines in its legislative capability. In Quasi-Executive, it manages investigation and enforcement actions, and in the Quasi-Judicial, it passes the rules and regulations in its judicial limits. Along with the following, SEBI may also take trials to commence inspection of any book, register or other documents or records of any mentioned public company which aims to get its securities listed on any recognized stock exchange where the SEBI has reasonable grounds to take into account that such company has been involving in fraud trading related to the securities market [6].
Also, SEBI aims to provide a market platform to issuers where they can assuredly look forward to raise the required amount of funds in an easy and effective manner. For the investors, it aims to safeguard the right and interest of the investors by providing adequate, exact and authentic information on a regular basis. In order to allow the intermediaries, to provide better services to the investors and the issuers, SEBI hence provides a modest, professionalized and developing market having efficient and required infrastructure [7].
SEBI look forward to restore and protect the trust of investors, mainly the interest of small investors. Measure ad performance. Select basic ads. Create a personalised ads profile. Select personalised ads. Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. The Securities and Exchange Board of India was established in its current incarnation in April , following the passage of the Securities and Exchange Board of India Act by the nation's parliament.
It supplanted the Controller of Capital Issues, which had regulated the securities markets under the Capital Issues Control Act of , passed just months before India gained independence from the British. It also has regional offices in the cities of New Delhi, Kolkata, Chennai, and Ahmedabad, and more than a dozen local offices in cities including Bangalore, Jaipur, Guwahati, Patna, Kochi, and Chandigarh. According to its charter, SEBI is expected to be responsible for three main groups:.
The body drafts regulations and statutes in a regulatory capacity, passes rulings and orders in a judicial capacity, and conducts investigations and imposes penalties in an enforcement capacity. SEBI is run by a board of directors, including a chair who is elected by the parliament, two officers from the Ministry of Finance, one member from the Reserve Bank of India , and five members who are also elected by the parliament.
Critics say SEBI lacks transparency and is insulated from direct public accountability. The only mechanisms to check its power are a Securities Appellate Tribunal, which consists of a panel of three judges, and the Supreme Court of India. Both bodies have occasionally censured SEBI. SEBI has a corporate framework comprising of various departments each managed by a department head. There are about 20 departments under SEBI.
Some of these departments are corporation finance, economic and policy analysis, debt and hybrid securities, enforcement, human resources, investment management, commodity derivatives market regulation, legal affairs, and more. The hierarchical structure of SEBI consists of the following members:. Quasi-Judicial: SEBI has the authority to deliver judgements related to fraud and other unethical practices in terms of the securities market. This helps to ensure fairness, transparency, and accountability in the securities market.
Quasi-Executive: SEBI is empowered to implement the regulations and judgements made and to take legal action against the violators. It is also authorised to inspect Books of accounts and other documents if it comes across any violation of the regulations.
Quasi-Legislative: SEBI reserves the right to frame rules and regulations to protect the interests of the investors. Some of its regulations consist of insider trading regulations, listing obligations, and disclosure requirements. These have been formulated to keep malpractices at bay.
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