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Securities &
Exchange
Board of
India
George V James
Department of Commerce, Mar Ivanios College

1
Contents
 Introduction
 Objectives of SEBI
 Powers & Functions of SEBI
 Structure of SEBI
 Various Departments under SEBI
 Powers of Central Government
 Amendments
Department of Commerce, Mar Ivanios College

2
Introduction
 Controller of Capital Issues was the regulatory authority before SEBI came into
existence; it derived authority from the Capital Issues (Control) Act, 1947.
 In April 12, 1988 the SEBI was constituted as the regulator of capital markets in
India under a resolution of the Government of India (as a non-statutory body).
 It was later made a statutory body on April 4,1992 and it came to be known as
the SEBI Act,1992.
 The mission of SEBI is to make India as one of the best securities market in the
world and SEBI as one of the most respected regulator in the world.
 In the year of 1995, the SEBI was given additional statutory powers by the
Government of India through an amendment to the Securities and Exchange
Board of India Act 1992.
 It is the apex body to develop and regulate the stock market in India.
 It is known as the watchdog of Indian Capital Market.
Department of Commerce, Mar Ivanios College

3
Objectives
 To protect the interest of investors so that there
is a steady flow of savings into the capital
market.
 To promote the development and to regulate the
securities market .
 Ensure fair practices by the issuers of securities
so that they can raise resources at minimum
cost.
 To promote efficient services by brokers,
merchant bankers and other intermediaries so
Department of Commerce, Mar Ivanios College
that they become competitive and professional. 4
POWERS of sebi
1) Power to call periodical returns from recognized stock
exchange.
2) Power to control and regulate stock exchange.
3) Power to levy fees or other charges for carrying out
the purpose of regulation.
4) Power to direct enquiries to be made in relation to
affairs of stock exchanges or their members.
5) Power to make or amend bye-laws of recognized stock
exchanges.
6) Power to grant registration to market intermediaries.
7) Power to declare applicability of section 17 of the
Securities Contract (Regulation) Act 1956 in any
state or area to grant licenses to dealers.
8) Power to compel listing of securities by public
companies. epartment of Commerce, Mar Ivanios College
D
5
FUNCTIONS OF SEBI
Section 11 of the SEBI Act,1992 classifies the functions of SEBI under 2
heads:1) Regulatory Functions
2) Developmental Functions.

Department of Commerce, Mar Ivanios College

6
1. REGULATORY
FUNCTIONS
i.

Regulation of stock exchanges and self regulatory
organizations.
ii. Registration and regulation of stock brokers , sub-brokers ,
registrars of all issues, merchant bankers, underwriters,
portfolio managers etc.
iii. Registration and regulation of the working of collective
investment schemes including mutual funds.
iv. Regulating substantial acquisitions of shares and take over
of companies.
v. Prohibition of fraudulent and unfair trade practices relating
to securities market.
vi. Prohibiting of insider trading.
Department of Commerce, Mar Ivanios College

7
2.DEVELOPMENTAL
FUNCTIONS
i. Promoting investors education.
ii. Training of intermediaries.
iii. Conducting research and publishing
information useful to all market participants.
iv. Promoting of fair practices.
v. Promotion of self regulatory organisations.

Department of Commerce, Mar Ivanios College

8
STRUCTURE OF SEBI
The board shall consist of the following members :Chairman
Two members, one from amongst the officials of the
Central government dealing with finance and another from
the administration of Companies Act,1956.
One member from amongst the officials of the Reserve
Bank of India.
Five other members of whom at three shall be the
whole time members to be appointed by the Central
Government.

Department of Commerce, Mar Ivanios College

9
VARIOUS DEPARTMENTS UNDER SEBI
 The Primary Market.
 The Issue Management and Intermediaries
Department.
 The Secondary Market.
 Institutional Investment Department (MF and FII),
Mergers and Acquisition.
 Legal Department (all legal matters).
 Investigation Department (carry out inspection and
investigation).
Department of Commerce, Mar Ivanios College

10
POWERS OF CENTRAL
GOVERNMENT

 The Central Government has power to issue directions to SEBI Board,
supersede the Board, if necessary and to call for returns and reports as and
when necessary.
 The Central Government has also power to give any guideline(s) or to make
regulations and rules for SEBI and its operations.

RELATION WITH THE CENTRAL GOVERNMENT
 The activities of SEBI are financed by grants from Central Government, in
addition to fees, charges etc. collected by SEBI.
 The fund called SEBI General Fund is set up, to which, all fees, charges and
grants are credited.
 This fund is used to meet the expenses of the Board and to pay salary of
staff and members of the body.
Department of Commerce, Mar Ivanios College

11
AMMENDMENTS
SEBI Act, 1992 was amended in the years 1995, 1999 and 2002 to meet
the requirements of changing needs of the securities market.
SEBI AMENDMENT BILL, 1995: Mainly focussed on Foreign Institutional Investors (FII).
 Given additional statutory powers.
SEBI AMENDMENT BILL, 1999: Included derivates & instruments of collective investment schemes
under the definition of securities.
 Enable RBI to regulate the transactions in government securities &
other related instruments as may be specified by the Government.
Department of Commerce, Mar Ivanios College

12
SEBI AMENDMENT BILL, 2002: Gave more teeth to SEBI to punish market offenders through Serious
Fraud Office (SFO).
 Power to search & seize books, registers & documents of
intermediaries or any other persons associated with the securities
market.

 Fine of 25 crores for insider trading.
 Board strength increased from six to nine.

Department of Commerce, Mar Ivanios College

13
SEBI AMENDMENT BILL, 2013: Passed by the Rajya Sabha on 5th September.
 Widen the area for eligible candidates for the post of Presiding Officer at
the Securities Appellate Tribunal (SAT).
 The Bill extends eligibility criteria for SAT Presiding Officer’s role &
includes sitting or retired Judges of a High Court with a minimum service
of 7 years.

Department of Commerce, Mar Ivanios College

14
REGIONAL OFFICES
1.
2.
3.
4.

New Delhi
Kolkata
Chennai
Ahmadabad
Local Offices

1.
2.
3.
4.
5.
6.
7.

Jaipur
Bangalore
Guwahati
Bhubaneswar
Patna
Kochi
Chandigarh

SEBI Bhavan, Mumbai Headquarters (in
Bandra Kurla Complex)

Department of Commerce, Mar Ivanios College

15
Upendra Kumar Sinha
(Present SEBI Chairman)
February 2011-till date
Department of Commerce, Mar Ivanios College

16
REFERANCES
• www.wikipedia.org
• www.sebi.gov.in

Department of Commerce, Mar Ivanios College

17
Department of Commerce, Mar Ivanios College

18

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SEBI ACT

  • 1. Securities & Exchange Board of India George V James Department of Commerce, Mar Ivanios College 1
  • 2. Contents  Introduction  Objectives of SEBI  Powers & Functions of SEBI  Structure of SEBI  Various Departments under SEBI  Powers of Central Government  Amendments Department of Commerce, Mar Ivanios College 2
  • 3. Introduction  Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the Capital Issues (Control) Act, 1947.  In April 12, 1988 the SEBI was constituted as the regulator of capital markets in India under a resolution of the Government of India (as a non-statutory body).  It was later made a statutory body on April 4,1992 and it came to be known as the SEBI Act,1992.  The mission of SEBI is to make India as one of the best securities market in the world and SEBI as one of the most respected regulator in the world.  In the year of 1995, the SEBI was given additional statutory powers by the Government of India through an amendment to the Securities and Exchange Board of India Act 1992.  It is the apex body to develop and regulate the stock market in India.  It is known as the watchdog of Indian Capital Market. Department of Commerce, Mar Ivanios College 3
  • 4. Objectives  To protect the interest of investors so that there is a steady flow of savings into the capital market.  To promote the development and to regulate the securities market .  Ensure fair practices by the issuers of securities so that they can raise resources at minimum cost.  To promote efficient services by brokers, merchant bankers and other intermediaries so Department of Commerce, Mar Ivanios College that they become competitive and professional. 4
  • 5. POWERS of sebi 1) Power to call periodical returns from recognized stock exchange. 2) Power to control and regulate stock exchange. 3) Power to levy fees or other charges for carrying out the purpose of regulation. 4) Power to direct enquiries to be made in relation to affairs of stock exchanges or their members. 5) Power to make or amend bye-laws of recognized stock exchanges. 6) Power to grant registration to market intermediaries. 7) Power to declare applicability of section 17 of the Securities Contract (Regulation) Act 1956 in any state or area to grant licenses to dealers. 8) Power to compel listing of securities by public companies. epartment of Commerce, Mar Ivanios College D 5
  • 6. FUNCTIONS OF SEBI Section 11 of the SEBI Act,1992 classifies the functions of SEBI under 2 heads:1) Regulatory Functions 2) Developmental Functions. Department of Commerce, Mar Ivanios College 6
  • 7. 1. REGULATORY FUNCTIONS i. Regulation of stock exchanges and self regulatory organizations. ii. Registration and regulation of stock brokers , sub-brokers , registrars of all issues, merchant bankers, underwriters, portfolio managers etc. iii. Registration and regulation of the working of collective investment schemes including mutual funds. iv. Regulating substantial acquisitions of shares and take over of companies. v. Prohibition of fraudulent and unfair trade practices relating to securities market. vi. Prohibiting of insider trading. Department of Commerce, Mar Ivanios College 7
  • 8. 2.DEVELOPMENTAL FUNCTIONS i. Promoting investors education. ii. Training of intermediaries. iii. Conducting research and publishing information useful to all market participants. iv. Promoting of fair practices. v. Promotion of self regulatory organisations. Department of Commerce, Mar Ivanios College 8
  • 9. STRUCTURE OF SEBI The board shall consist of the following members :Chairman Two members, one from amongst the officials of the Central government dealing with finance and another from the administration of Companies Act,1956. One member from amongst the officials of the Reserve Bank of India. Five other members of whom at three shall be the whole time members to be appointed by the Central Government. Department of Commerce, Mar Ivanios College 9
  • 10. VARIOUS DEPARTMENTS UNDER SEBI  The Primary Market.  The Issue Management and Intermediaries Department.  The Secondary Market.  Institutional Investment Department (MF and FII), Mergers and Acquisition.  Legal Department (all legal matters).  Investigation Department (carry out inspection and investigation). Department of Commerce, Mar Ivanios College 10
  • 11. POWERS OF CENTRAL GOVERNMENT  The Central Government has power to issue directions to SEBI Board, supersede the Board, if necessary and to call for returns and reports as and when necessary.  The Central Government has also power to give any guideline(s) or to make regulations and rules for SEBI and its operations. RELATION WITH THE CENTRAL GOVERNMENT  The activities of SEBI are financed by grants from Central Government, in addition to fees, charges etc. collected by SEBI.  The fund called SEBI General Fund is set up, to which, all fees, charges and grants are credited.  This fund is used to meet the expenses of the Board and to pay salary of staff and members of the body. Department of Commerce, Mar Ivanios College 11
  • 12. AMMENDMENTS SEBI Act, 1992 was amended in the years 1995, 1999 and 2002 to meet the requirements of changing needs of the securities market. SEBI AMENDMENT BILL, 1995: Mainly focussed on Foreign Institutional Investors (FII).  Given additional statutory powers. SEBI AMENDMENT BILL, 1999: Included derivates & instruments of collective investment schemes under the definition of securities.  Enable RBI to regulate the transactions in government securities & other related instruments as may be specified by the Government. Department of Commerce, Mar Ivanios College 12
  • 13. SEBI AMENDMENT BILL, 2002: Gave more teeth to SEBI to punish market offenders through Serious Fraud Office (SFO).  Power to search & seize books, registers & documents of intermediaries or any other persons associated with the securities market.  Fine of 25 crores for insider trading.  Board strength increased from six to nine. Department of Commerce, Mar Ivanios College 13
  • 14. SEBI AMENDMENT BILL, 2013: Passed by the Rajya Sabha on 5th September.  Widen the area for eligible candidates for the post of Presiding Officer at the Securities Appellate Tribunal (SAT).  The Bill extends eligibility criteria for SAT Presiding Officer’s role & includes sitting or retired Judges of a High Court with a minimum service of 7 years. Department of Commerce, Mar Ivanios College 14
  • 15. REGIONAL OFFICES 1. 2. 3. 4. New Delhi Kolkata Chennai Ahmadabad Local Offices 1. 2. 3. 4. 5. 6. 7. Jaipur Bangalore Guwahati Bhubaneswar Patna Kochi Chandigarh SEBI Bhavan, Mumbai Headquarters (in Bandra Kurla Complex) Department of Commerce, Mar Ivanios College 15
  • 16. Upendra Kumar Sinha (Present SEBI Chairman) February 2011-till date Department of Commerce, Mar Ivanios College 16
  • 18. Department of Commerce, Mar Ivanios College 18