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SEBI as a regulatory body. INTRODUCTION In 1988 the Securities and Exchange
Board of India (SEBI) was established by the Government ...
... IN INDIA The Forward Markets Commission (FMC) is the regulatory body for Commodity ...
similar to the Securities and Exchange Board of India (SEBI) that regulates ...
... upgraded as a fully autonomous body (a statutory Board ... and Exchange Board of India
Act (SEBI Act) on ... Control, a statutory and autonomous regulatory board with ...
... of hedge funds were registered with some regulatory body (such as ... 15A and 20 A),
the regulatory regime has ... and $119 billion at market price, according to SEBI. ...
... Regulatory scenario SEBI was established as a statutory body in 1992 to: - regulate
and promote development of the securities market and protect the interest ...
Submitted by varshneygk on April 21, 2008
Category: Business
Words: 3389 | Pages: 14
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INTRODUCTION
In 1988 the Securities and Exchange Board of India (SEBI) was established by the Government of India through an executive resolution, and was subsequently upgraded as a fully autonomous body (a statutory Board) in the year 1992 with the passing of the Securities and Exchange Board of India Act (SEBI Act) on 30th January 1992. In place of Government Control, a statutory and autonomous regulatory board with defined responsibilities, to cover both development & regulation of the market, and independent powers has been set up. Paradoxically this is a positive outcome of the Securities Scam of 1990-91.
The basic objectives of the Board were identified as:
• to protect the interests of investors in securities;
• to promote the development of Securities Market;
• to regulate the securities market and
• for matters connected therewith or incidental thereto.
Since its inception SEBI has been working targeting the securities and is attending to the fulfillment of its objectives with commendable zeal and dexterity. The improvements in the securities markets like capitalization requirements, margining, establishment of clearing corporations etc. reduced the risk of credit and also reduced the market.
SEBI has introduced the comprehensive regulatory measures, prescribed registration norms, the eligibility criteria, the code of obligations and the code of conduct for different intermediaries like, bankers to issue, merchant bankers, brokers and sub-brokers, registrars, portfolio managers, credit rating agencies, underwriters and others. It has framed bye-laws, risk identification and risk management systems for Clearing houses of stock exchanges, surveillance system etc. which has made dealing in securities both safe and transparent to the end investor.
Two broad approaches of SEBI is to integrate the securities market at the national level, and also to...
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