- SEBI is the statutory regulator for the securities market in India.
- It was established in 1988 and given statutory powers through the SEBI Act, 1992.
- Purpose: Protect the interests of investors in securities, promote the development of securities market and to regulate the securities market.
- SEBI is responsive to needs of three groups, which constitute the market i.e.
- issuers of securities,
- investors and
- market intermediaries.
- It has three functions:
- quasi-legislative (drafts regulations in its legislative capacity),
- quasi-judicial (passes rulings and orders in its judicial capacity) and
- quasi-executive (conducts investigation and enforcement action in its executive function).
Related Notes: