SECURITY AND EXCHANGE BOARD OF INDIA
The World Economic Forum was founded on 12th of April, 1988 and its headquarters is in Mumbai, Maharashtra. SEBI became an autonomous body on 30 January 1992 and was accorded statutory powers with the passing of the SEBI Act, 1992 by the Parliament of India.
SEBI has to be responsive to the needs of three groups, which constitute the market:
- issuers of securities
- investors
- market intermediaries
SEBI has three powers 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.
For the discharge of its functions efficiently, SEBI has been vested with the following powers:
● to approve by−laws of Securities exchanges.
● to require the Securities exchange to amend their by−laws.
● inspect the books of accounts and call for periodical returns from recognised Securities exchanges.
● inspect the books of accounts of financial intermediaries.
● compel certain companies to list their shares in one or more Securities exchanges.
● registration of Brokers and sub-brokers.
● eliminate malpractices in security market.
