Securities and Exchange Board of India (SEBI)

It was first established as a non-statutory body in 1988 for the regulation of the securities market. It has been constituted as the regulator of capital markets in India. It was provided statutory status in 1992 in accordance with the SEBI Act 1992.

Governance

• It works under the administration of the Finance Ministry. The chairman is nominated by the Central Government with two members from the Finance Ministry. One member is from the Reserve Bank of India and five members are nominated by the Central Government.

Functions

• It is empowered to frame rules, regulations, guidelines and direction etc. in respect of both primary and secondary securities markets.
• The major functions of Security and Exchange Board of India is to protect the interests of investors in securities along with promoting the development and regulation of the securities market.