finace related SEBI

2. Establishment Of SEBI
 established on April 12, 1992 in accordance with the
provisions of the Securities and Exchange Board of
India Act, 1992.

3. SEBI: Brief Information
 Formed: 12 April, 1992
 Jurisdiction: Government of India
 Headquarters: Mumbai, Maharashtra
 Regional Offices: Northern- New Delhi
Eastern- Kolkata
Southern- Chennai
Western- Ahmedabad
 Website: www.sebi.gov.in

4. Members of SEBI
The Board Consists of following members:
 A Chairman (nominated by Union Government)
 Two Members from Union Finance Ministry
 One Member from RBI
 Five other Members nominated by Union
Government, of whom at least three shall be whole-
time members.

5. Functions of SEBI
 Regulatory Functions:
 Registering and regulating the working of
intermediaries
 Regulating substantial acquisition of shares and
takeover of companies
 Registering and regulating the working of venture
capital funds and collective investment schemes
including mutual funds
 To conduct inquiries and audits of stock exchanges

6.  Protective Functions:
 to protect the interests of investors in Securities
 To prohibiting fraudulent and unfair trade practices
relating to securities markets
 To educate investors

7.  Developmental Functions:
 To promote training of intermediaries
 Promoting the activities of the stock exchange by
adopting flexible and adoptable ways like internet
trading through registered stock brokers

8. Powers of SEBI
The board has been assigned with following powers:
 To regulate and approve by laws of stock exchanges
 Inspect books of accounts of recognised stock
exchanges
 Compel certain companies to get listed on one or more
stock exchanges
 Powers of a civil court
 Impose Penalties

9. Securities Appellate Tribunal
 Established to hear and dispose of appeals against
orders passed by the Board
 It also hears and disposes of appeals against orders
passed by the Pension Fund Regulatory and
Development Authority (PFRDA) and Insurance
Regulatory Development Authority of India (IRDAI)

10. Appeal to Supreme Court
 Any person aggrieved by any decision or order of the
Securities Appellate Tribunal may file an appeal to the
Supreme Court within sixty days from the date of
communication of the decision or order of the
Securities Appellate Tribunal to him on any question
of law arising out of such order.

11. Accounts and Audit of SEBI
 The Board maintains proper accounts and other
relevant record and prepares annual statement of
accounts in the form prescribed by the Central
Government in consultation with the Comptroller and
Auditor General of India.
 The accounts of the Board are audited by the
Comptroller and Auditor General of India at specified
intervals.

12. Grants by the Central Government
 The Central Government after due appropriation made
by Parliament by law in this behalf, makes to the
Board grants of such sums of money as the
Government may think fit for being utilized for the
purposes SEBI Act, 1992.

13. SEBI General Fund
The Fund is credited with:
 All grants, fees and charges received by the Board;
 All sums received by the Board from such other
sources as may be decided by the Central Government.
The Fund is applied for meeting:
 The salaries, allowances and other remuneration of the
members, officers and other employees of the Board;
 The expenses of the Board in the discharge of its
functions

14. Powers of Central Government
 Power to give immunity-
 the Central Government, on recommendation by the
Board, may grant to a person immunity from
prosecution for any offence or from the imposition of
any penalty under SEBI Act, 1992 with respect to the
alleged violation if such person makes a full and true
disclosure in respect of the alleged violation.

15.  Power to make rules-
The Central Government has power to notify rules for
SEBI. Such rules may provide for matters like:
• the term of office and other conditions of service of the
Chairman and the members
• the additional functions that may be performed by the
Board
• the manner in which the accounts of the Board shall
be maintained
• the salaries and allowances and other terms and
conditions of service of the Presiding Officers,
Members and other officers and employees of the
Securities Appellate Tribunal

16.  the procedure for the investigation of misbehaviour or
incapacity of the Presiding Officers, or other Members
of the Securities Appellate Tribunal
 the form in which an appeal may be filed before the
Securities Appellate
 the form and the manner in which returns and report
to be made to the Central Government

17.  Powers to issue directions -
 The Central Government can issue directions to Board
on question of policy from time to time. The decision
of Central Government in this regard shall be final.
 Powers to Supersede the Board
 The Central Government may supersede the Board for
such period, not exceeding six months, if it is of the
opinion that on account of grave emergency, the Board
is unable to discharge its functions or if the Board has
persistently made default in complying with any
direction issued by the Central Government