D Karthik,

APM,
Olive BTM layout,
Bangalore.
Introduction

• The Securities and Exchange Board of India,set up in 1988under an administrative

arrangement ,given statutory powerswith the enactment of the SEBI Act 1992.
• The act provides for the establishment of the board to protectthe interest of
investors in securities market.
• The board consists of a chairman , two members from thegovt. of india,ministries
of law and finance,one member fromthe RBI and two other members
• It describe the manner in which SEBI Act 1992,the SCRA1956,the companies Act
1956 and the depository act 1996.
OBJECTIVES OF “SEBI”
The three main objectives are:-

• To protect the interest of the investors in securities

• To promote the development of securities market
• To regulate the securities market
Historical Background
• Securities and Exchange Board of India (SEBI) was first established in 1988.
• It 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 its headquarters at the business district of Bandra Kurla Complex in Mumbai and has Northern, Eastern, Southern
and Western Regional Offices in New Delhi, Kolkata, Chennai, and Ahmedabad respectively.
• Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the
Capital Issues (Control) Act, 1947.
• The SEBI is managed by its members, which consists of the following:
• The chairman is 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, out of them at least three shall be whole-
time members.
Powers of SEBI
• 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.
Functions:-
• The Preamble of the Securities and Exchange Board of India describes the basic functions of the
Securities and Exchange Board of India as "...to protect the interests of investors in securities and
to promote the development of, and to regulate the securities market and for matters connected
there with or incidental there to".
• 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. Though this makes it very powerful, there is
an appeal process to create accountability. There is a Securities Appellate Tribunal which is a three-member
tribunal and is currently headed by Justice Tarun Agarwala, former Chief Justice of the Meghalaya High Court
.[8] A second appeal lies directly to the Supreme Court. SEBI has taken a very proactive role in streamlining
disclosure requirements to international standards
 Organizational Structure
• Madhabi Puri Buch took charge of chairman on 1 March 2022, replacing Ajay Tyagi, whose term ended on 28
February 2022. Madhabi Puri Buch is the first woman chairperson of SEBI

List of Chairpersons
Name From To
Madhabi Puri Buch 1 March 2022 Present
Ajay Tyagi 10 February 2017 28 February 2022
U K Sinha 18 February 2011 10 February 2017
C. B. Bhave 18 February 2008 18 February 2011
M. Damodaran 18 February 2005 18 February 2008
G. N. Bajpai 20 February 2002 18 February 2005
D. R. Mehta 21 February 1995 20 February 2002
S. S. Nadkarni 17 January 1994 31 January 1995
G. V. Ramakrishna 24 August 1990 17 January 1994
Dr. S. A. Dave 12 April 1988 23 August 1990
ACHIEVEMENTS OF SEBI
SEBI turned 25 in 2013. While evaluating SEBI we must take into consideration the
circumstances under which it came into being, early handicaps it had to overcome
such as a less than supportive government. SEBI had to start from the stretch. The
top five achievements of SEBI are as follows:
Challenges Faced by SEBI
SEBI has given intellectual leadership for the
transformation of equity market. There are
various problems and challenges ahead of SEBI.
Initially the objectives of SEBI were not
adequately defined and it frequently succumbed
to lobbying. SEBI regulations are laws but the
process through Which regulations are drafted
leaves a lot to be desired. Neither regulation
making nor post-mortem analysis of regulations is
shaped by evidences. Following are the problems
and challenges ahead of SEBI:
 CONCLSION

SEBI has taken a number of steps in the last few years to reform Indian capital
market. It has past various regulations such as freedom in designing and
pricing instruments, introduction of stock invest scheme, banning badla
system and introduction of electronic trading. It also has faced various
controversies such as Ulips, sahara and MCXSX controversies. In such a small
time SEBI has earned its respect and place in the capital market however there
are various problems and challenges in front of it which it needs to overcome.