Securities and Exchange Board of India

Infobox generic
name = Securities and Exchange Board of India
sub0 = "Securities Market Regulatory Body in India"|
img1 = SEBI_Bhavan.jpg
width1 = 300px
cap1 = SEBI Bhavan, Mumbai Headquarters of SEBI|
hdr1 = Organization Details
lbl1 = Headquarters
row1 =
lbl2 = Established
row2 = 1992
lbl3 = Jurisdiction
row3 = India
lbl4 = Head
row4 = Chairman
lbl5 = Chairman
row5 = CB Bhave
lbl6 = Term
row6 = February 16, 2008 -
lbl7 = Total Staff [http://www.sebi.gov.in/acts/EmployeeDetails.html]
row7 = 525|
hdr2 = Official Website
lbl21 = Website
row21 = www.sebi.gov.in

Securities and Exchange Board of India (SEBI) is the Regulator for the Securities Market in India. Originally set up by the Government of India in 1988, it acquired statutory form in 1992 with SEBI Act 1992 being passed by the Indian Parliament.

Chaired by Shri CB Bhave, SEBI is headquartered in the popular business district of Bandra-Kurla Complex in Mumbai, and has Northern, Eastern and Southern regional offices in New Delhi, Kolkata and Chennai. It is in the news that a new Western Regional Office has been proposed at Ahmedabad.

Organization Structure

Shri CB Bhave is the sixth chairman of the Securities Market Regulator. Prior to taking charge as Chairman SEBI, he had been the chairman of NSDL (National Securities Depository Limited) ushering in paperless securities. Prior to his stint at NSDL, he had served SEBI as a Senior Executive Director. He is a former Indian Administrative Service officer of the 1975 batch.

The Board comprises of [http://www.sebi.gov.in/Board.pdf]

Various Departments are headed by Executive Directors (EDs), namely [http://www.sebi.gov.in/acts/EmployeeDetails.html] :

Functions and Responsibilities

SEBI has to be responsive to the needs of three groups,which constitute the market:
* the issuers of securities
* the investors
* the market intermediaries.

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. There is a Securities Appellate Tribunal which is a three member tribunal and is presently headed by a former Chief Justice of a High court - Mr. Justice NK Sodhi. A second appeal lies directly to the Supreme Court.

SEBI has enjoyed success success as a regulator by pushing systemic reforms aggressively and successively (e.g. the quick movement towards making the markets electronic and paperless rolling settlement on T+2 basis). SEBI has been active in seting up the regulations as required under law.

Notes

ee also

* Bombay Stock Exchange
* National Stock Exchange of India

External links

[http://www.sebi.gov.in SEBI Official Website]