1. Shivam Mittal

2. Securities and Exchange Board of India THE Securities and Exchange Board of India is the regulator for the securities market in India. It was established on 12 April 1992 through the SEBI Act, 1992.regulatorsecurities

3. CONTENT 1 History 2 Organization structure 3 Functions and responsibilities 3.1 Powers 3.2 SEBI Committees 4 Major achievements 5 Controversies 6 Corruption 7 See also 8 References 9 External links

4. HISTORY It was formed officially by the Government of India in 1992 with SEBI Act 1992 being passed by the Indian Parliament. SEBI is headquartered in the business district of Bandra Kurla Complex complex in Mumbai, and has Northern, Eastern, Southern and Western regional offices in New Delhi, Kolkata, Chennai and Ahmedabad.Government of IndiaIndian ParliamentBandra Kurla ComplexMumbaiNew DelhiKolkataChennaiAhmedabad Controller of Capital Issues was the regulatory authority before SEBI came into existence; it derived authority from the Capital Issues (Control) Act, 1947. Initially SEBI was a non statutory body without any statutory power. However in 1995, the SEBI was given additional statutory power by the Government of India through an amendment to the Securities and Exchange Board of India Act 1992. In April, 1998 the SEBI was constituted as the regulator of capital markets in India under a resolution of the Government of India. The SEBI is managed by its members, which consists of following: a) The chairman who is nominated by central government. b) Two members, i.e. officers of central ministry. c) One member from the RBI. d) The remaining five members are nominated by the central government, out of whom at least three shall be whole-time members.

5. Organization structure Further information: SEBI Organization ChartSEBI Organization Chart Upendra Kumar Sinha was appointed chairman on 18 February 2011 replacing C. B. Bhave. [3] Upendra Kumar SinhaC. B. Bhave [3] The Board comprises [4] [4] NameDesignationUpendra Kumar SinhaChairmanPrashant SaranWhole Time MemberRajeev Kumar AgarwalWhole Time MemberDr. Thomas MathewJoint Secretary, Ministry of FinanceV. K. Jairath magyaMember AppointedAnand SinhaDeputy Governor, Reserve Bank of IndiaNaved MasoodSecretary, Ministry of Corporate AffairsList of former Chairmen [5] :Upendra Kumar SinhaMinistry of FinanceReserve Bank of India [5] NameFromToC. B. Bhave18 February 200818 February 2011M. Damodaran18 February 200518 February 2008G. N. Bajpai20 February 200218 February 2005D. R. Mehta21 February 199520 February 2002S. S. Nadkarni17 January 199431 January 1995G. V. Ramakrishna24 August 199017 January 1994Dr. S. A. Dave12 April 198823 August 1990C. B. BhaveM. Damodaran

6. Functions and responsibilities SEBI has to be responsive to the needs of three groups, which constitute the market: the issuers of securities the investors the market intermediaries. SEBI has three functions 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 appeals process to create accountability. There is a Securities Appellate Tribunal which is a three-member tribunal and is presently headed by a former Chief Justice of a High court - Mr. Justice NK Sodhi. A second appeal lies directly to the Supreme Court.quasi- legislativequasi-judicialSupreme Court

7. Powers SEBI has been invested with the necessary powers which are: to approve by−laws of stock exchanges. to require the stock exchange to amend their by−laws. inspect the books of accounts and call for periodical returns from recognized stock exchanges. inspect the books of accounts of a financial intermediaries. compel certain companies to list their shares in one or more stock exchanges. levy fees and other charges on the intermediaries for performing its functions. grant license to any person for the purpose of dealing in certain areas. delegate powers exercisable by it. prosecute and judge directly the violation of certain provisions of the companies Act.

8. SEBI Committees Technical Advisory Committee Committee for review of structure of market infrastructure institutions Members of the Advisory Committee for the SEBI Investor Protection and Education Fund Takeover Regulations Advisory Committee Primary Market Advisory Committee (PMAC) Secondary Market Advisory Committee (SMAC) Mutual Fund Advisory Committee Corporate Bonds & Securitization Advisory Committee Takeover Panel SEBI Committee on Disclosures and Accounting Standards (SCODA) High Powered Advisory Committee on consent orders and compounding of offences Derivatives Market Review Committee Committee on Infrastructure Funds

9. Major achievements SEBI has enjoyed success as a regulator by pushing systemic reforms aggressively and successively. SEBI is credited for quick movement towards making the markets electronic and paperless by introducing T+5 rolling cycle from July 2001 and T+3 in April 2002 and further to T+2 in April 2003. The rolling cycle of T+2 [6] means, Settlement is done in 2 days after Trade date. [7] SEBI has been active in setting up the regulations as required under law. [6]SettlementTrade date [7] SEBI has also been instrumental in taking quick and effective steps in light of the global meltdown and the Satyam fiasco. [citation needed] In October 2011, it increased the extent and quantity of disclosures to be made by Indian corporate promoters. [8] In light of the global meltdown, it liberalised the takeover code to facilitate investments by removing regulatory structures. In one such move, SEBI has increased the application limit for retail investors to Rs 2 lakh, from Rs 1 lakh at present. [9]citation needed [8] [9]

10. Corruption CBI arrested Avarjeet Singh [17], a Deputy General manager (DGM) of SEBI for demanding and accepting a bribe amounting to 10 lakh (US$18,900) on 1st June 2012. [18] The DGM was denied bail by a sessions court on 20 June 2012. Taking a tough stand, the court observed (among other things), "when our country is fighting against the menace of corruption, if a high ranking official of SEBI is granted bail, that will send wrong signals to the society". [19] The Gujarat High Court granted him bail on 26 June 2012. [17] CBI [17]US$ [18]sessions court [19]Gujarat High Court [17] On 9 August 2012, Minister of State in Finance Ministry, replying to a question in the upper house of Indian Parliament, Rajya Sabha, said that three SEBI officers were under investigation for corruption. The officers were Assistant General Managers Jerome K Alexander and Rajesh Pratap Singh and Deputy General Manager Avarjeet Singh.Indian ParliamentRajya Sabha

11. See also Stock Exchange National Stock Exchange of India Forward Markets Commission (India) Securities Commission Financial regulation List of financial regulatory authorities by country Stock exchange Regulation D (SEC) Institute of Chartered Accountants of India Institute of Company Secretaries of India

12. External links Securities and Exchange Board of India Website Securities and Exchange Board of India Website