The Securities and Exchange Board of India Act, 1992
The Securities and Exchange Board of India Act, 1992 is an important act that governs the Indian securities market. It was enacted to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market.
The Act established the Securities and Exchange Board of India (SEBI) as a statutory body. SEBI is responsible for regulating the securities market in India, including stock exchanges, depositories, and intermediaries. The Act also gives SEBI the power to investigate and prosecute market abuses.
The Securities and Exchange Board of India Act, 1992 has been amended several times since it was first enacted. The most recent amendments were made in 2018. These amendments have given SEBI more power to regulate the securities market and to protect investors.
The Securities and Exchange Board of India (SEBI) Act, 1992 is an important piece of legislation governing the securities market in India. It was enacted to provide for the establishment of the Securities and Exchange Board of India, commonly known as SEBI, to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market in India.
Here are some key provisions and objectives of the SEBI Act, 1992:
- Establishment of SEBI: The Act establishes the Securities and Exchange Board of India as the regulatory authority for the securities market in India.
- Regulatory Powers: SEBI is empowered to regulate the securities market by issuing regulations, guidelines, and directions aimed at ensuring transparency, fairness, and integrity in the market.
- Protection of Investors’ Interests: One of the primary objectives of the Act is to protect the interests of investors in securities. SEBI is entrusted with the task of preventing fraudulent and unfair trade practices and ensuring that investors are provided with accurate and timely information.
- Promotion of Market Development: The Act seeks to promote the development of the securities market in India by facilitating the mobilization of savings and channeling them into productive investments.
- Regulation of Intermediaries: SEBI regulates various intermediaries in the securities market, including stockbrokers, sub-brokers, merchant bankers, and mutual funds, among others. It prescribes eligibility criteria, registration requirements, and codes of conduct for these intermediaries.
- Adjudication and Appellate Mechanism: The Act provides for adjudication of disputes and enforcement of SEBI’s orders through mechanisms such as adjudicating officers and appellate tribunals.
- Offences and Penalties: The Act specifies various offences related to securities fraud, manipulation, insider trading, etc., and prescribes penalties for contravention of its provisions.
Overall, the SEBI Act, 1992 plays a crucial role in regulating and developing the securities market in India, with the aim of ensuring investor protection, market integrity, and efficient capital allocation.
The Securities and Exchange Board of India Act, 1992
The Securities and Exchange Board of India Act, 1992
भारतीय प्रतिभूति और विनिमय बोर्ड अधिनियम, 1992
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