Securities and Exchange Board of India (SEBI)

Subject – Economy

Context – SEBI shortlists seven for the posts of 2 whole time members

Concept –

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.
The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance, Government of India.
The basic functions of the Securities and Exchange Board of India is to protect the interests of investors in securities and to promote and regulate the securities market.

History –

Before SEBI came into existence, Controller of Capital Issues was the regulatory authority; it derived authority from the Capital Issues (Control) Act, 1947.
In April, 1988 the SEBI was constituted as the regulator of capital markets in India under a resolution of the Government of India.
Initially SEBI was a non statutory body without any statutory power.
It became autonomous and given statutory powers by SEBI Act 1992.
The headquarters of SEBI is situated in Mumbai. The regional offices of SEBI are located in Ahmedabad, Kolkata, Chennai and Delhi.

Structure

SEBI Board consists of a Chairman and several other whole time and part time
SEBI also appoints various committees, whenever required to look into the pressing issues of that time.
Further, a Securities Appellate Tribunal (SAT) has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision.