Security Exchange & Board Of India

By-Aashish Bhardwaj Chirag Budhiraja Chahat Goel Gagandeep Singh Gaurav Mittal

Introduction

The Securities and Exchange Board of India (frequently abbreviated SEBI) is the regulator for the securities market in India.

History
It was formed officially by the Government of India in 1992 with SEBI Act 1992 being passed by the Indian Parliament. SEBI is headquartered in the business district of Bandra-Kurla complex in Mumbai, and has Northern, Eastern, Southern and Western regional offices in New Delhi, Kolkata, Chennai and Ahmedabad.

Functions and responsibilities

SEBI has three functions rolled into one body: quasi-legislative, quasi-judicial and quasi-executive. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity. Though this makes it very powerful, there is an appeals process to create accountability

Powers
For the discharge of its functions efficiently, SEBI has been invested with the necessary powers which are: to approve bylaws of stock exchanges. to require the stock exchange to amend their bylaws. inspect the books of accounts and call for periodical returns from recognised stock exchanges. inspect the books of accounts of a financial intermediaries.

 compel certain companies to list their shares in one or more stock exchanges. levy fees and other charges on the intermediaries for performing its functions. grant licence to any person for the purpose of dealing in certain areas. delegate powers exercisable by it. prosecute and judge directly the violation of certain provisions of the companies Act.

SEBI Committees
Technical Advisory Committee Committee for review of structure of market infrastructure institutions Members of the Advisory Committee for the SEBI Investor Protection and Education Fund Takeover Regulations Advisory Committee Primary Market Advisory Committee (PMAC) Secondary Market Advisory Committee (SMAC)

 Mutual Fund Advisory Committee Corporate Bonds & Securitization Advisory Committee Takeover Panel SEBI Committee on Disclosures and Accounting Standards (SCODA) High Powered Advisory Committee on consent orders and compounding of offences Derivatives Market Review Committee Committee on Infrastructure Funds

Regulatories Under SEBI

Bombay Stock Exchange: The Bombay Stock Exchange (BSE) is a stock exchange located on Dalal Street,Mumbai and is the oldest stock exchange in Asia. The equity market capitalization of the companies listed on the BSE was US$1 trillion as of December 2011

National Stock Exchange of India

The National Stock Exchange (NSE) is a stock exchange located at Mumbai, Maharashtra, India. It is the 16th largest stock exchange in the world by market capitalization and largest in India by daily turnover and number of trades, for both equities and derivative trading. NSE has a market capitalization of aroundUS$985 billion and over 1,640 listings as of December 2011.