Securities and Exchange Board of India (SEBI) – Part 2
#GS 02 Governance
For Prelims
Securities and Exchange Board of India (SEBI)
- Securities and Exchange Board of India (SEBI) is a statutory body established on April 12, 1992 as per the provisions of the Securities and Exchange Board of India Act, 1992.
- SEBI when initially formed in the year 1988 through a resolution of the Government of India it was a non-statutory body for the regulation of the securities market.
- SEBI has been setup to protect the interests of investors in securities and to promote and regulate the securities market.
- SEBI has its headquarters setup in Mumbai along with regional offices in Ahmedabad, Kolkata, Chennai and Delhi.
Organisational Structure of SEBI
- SEBI is an autonomous organization working under the administrative control of the Union Finance Ministry.
- A Securities Appellate Tribunal (SAT) has been constituted as an appellate body to protect the interest of entities that do not feel satisfied by SEBI’s decision.
- SAT consists of a Presiding Officer and two other Members and has the same powers as vested in a civil court.
- Supreme Court acts as the final appellate body for SAT.
Members of SEBI
- The chairman was nominated by the Union Government of India.
- Two members, i.e., Officers from the Union Finance Ministry.
- One member from the Reserve Bank of India.
- The remaining five members are nominated by the Union Government of India where three of the five members should be full-time members.
Source “Adani case: Centre has no objection to SC panel”
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