Sebi

Topics: Stock exchange, Stock market, Initial public offering, Investment, Mutual fund / Pages: 9 (2018 words) / Published: Dec 1st, 2008
SEBI,
Established in 1988 and became a fully autonomous body by the year 1992 with defined responsibilities to cover both development & regulation of the market. Region wise SEBI addresses and contact numbers are given so that investor grievances regarding CIS and for any other information may be contacted.

Securities and Exchange Board of India (SEBI) is a board (autonomous body) created by the Government of India in 1988 and given statutory form in 1992 with the SEBI Act 1992 with its head office at Mumbai. It is chaired by Mr. M. Damodaran a respected turnaround civil servant credited with turning around large public sector companies from near death scenarios including the famous Unit Trust of India. Below the Board, headed by the Chairman, the staff/officers of the organization are led by Executive Directors.
Sebi has three functions rolled into one body: legislative, judicial and executive. It drafts rules in its legislative capacity, it conducts enquiries and enforcement action in its executive fuction and it passes rulings and orders in its judicial capacity. Though this makes it exceedingly powerful, there is an appeals process to create accountibility.
Sebi has had a mixed history in terms of its success as a regulator. Though it has pushed systemic reforms aggresively and successively (e.g. the quick movement towards making the markets electronic and paperless), it seems to lack the legal expertise needed to sustain prosecutions/enforcement actions. It has often received flack from the appellate body known as the Securities Appellate Tribunal (SAT). From the SAT, an appeal lies straight to the Supreme Court of India.

SEBI - Introduction

In 1988 the Securities and Exchange Board of India (SEBI) was established by the Government of India through an executive resolution, and was subsequently upgraded as a fully autonomous body (a statutory Board) in the year 1992 with the passing of the Securities and Exchange Board of India Act (SEBI Act) on

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