Full Form of SEBI :
Securities and Exchange Board of India
SEBI Full Form is Securities and Exchange Board of India. SEBI was established in the year 1988 in order to regulate functions of the security market. It helps to promote a healthy and orderly development of the stock market. SEBI was initially ineffective as it was created as the nonstatutory body without having any statutory power. It was offered a legal status in 1992 with Securities and Exchange Board of India Act, 1992. The prime objective of SEBI is to protect investors, check on malpractices, to raise finance easily and fairly; and to provide a professional and competitive market to the intermediaries. To simply put, SEBI promotes and regulates activities of the stock market. The key functions of the board include developmental functions, protective functions, and regulatory functions.
The headquarters of the SEBI are situated in Bandra Kurla Complex in the metropolis Mumbai and also has eastern, southern, northern, and Western regional offices located in Kolkata, Chennai, New Delhi, and Ahmedabad respectively. Recently in the financial year of 2013-2014, the body has established two local offices in Bangalore and Jaipur. More local offices are slated to be opened in Patna, Kochi, Guwahati, and Bhubaneshwar. Prior to the establishment of SEBI, the Controller of capital Issues was responsible for regulating securities market in the country. The controller derived its powers and authority from Capital Issues (Control) Act 1947. In the beginning, the SEBI was not a statutory body, however, with the passage of the SEBI Act, 1992, it is now vested with statutory status and powers.
The body is managed by the Chairman, who the Union Government nominates; two members from Union Finance Ministry; One member from the Reserve Bank of India (abbreviated as the RBI); and remaining five members who the Union Government nominates. Of these five members, three members function as whole-time members. The SEBI has the responsibility to be receptive to the requirements of three groups, namely: the investors, the market intermediaries, and the issuers of securities. It performs three kinds of functions: quasi-judicial, quasi-legislative, and quasi-executive. Al these powers equip the SEBI with the capability to discharge its duties efficiently. Some of its powers include inspection of the books of accounts, registration brokers, approval of by-laws relating to stock exchanges and others.
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