SEBI is managed by the following members of the board:
- The Chairman who is nominated by the Union Government of India.
- Two members from the Union Finance Ministry
- One member from the Reserve Bank of India
- The remaining 5 members are nominated by the Union Government of India, out of them
SEBI has to be responsive to 3 groups which constitute the market:
- The issuer of securities
- The investor
- The market intermediaries
Following are the powers vested in SEBI:
- To regulate and approve by-laws of stock exchanges
- Inspect the books of accounts of recognized stock exchanges and call for periodical returns
- Inspect the books of financial Intermediaries.
- Compel certain companies to get listed on one or more stock exchanges
- To handle the registration of brokers
SEBI exercises it's powers by passing any one of the following from time to time
- Regulations - A list of all regulations passed by SEBI
- SEBI Master Circulars
- SEBI Circulars - A list of all circulars passed by SEBI from time to time
SEBI functions & roles have been reviewed along with following major areas:
- Primary Markets: SEBI has regulated the primary market through
- The regulation of issuers’ access to market
- Regulation of information production at the time of issue
- Regulation of processes and procedures relating to issuance of securities
- Disclosure: Disclosure standards are not limited to accounting information but was extended to other issue related communications such as advertisements.
- Corporate Governance: SEBI has made a constant effort to improve the standards of Corporate Governance in India.
- Settlement Systems
- Dematerialization of securities
- Institutionalization of Trading and ownership of securities
- Market Integrity and Insider Trading