Vol: 11, Issue: 2 2021

Page: 001-012

Trends in Capital Market and Securities and Exchange Board of India (SEBI)

Dr. Suhasini Parashar

Capital Market Reforms were undertaken during the 1990s encompassing legislative regulatory and institutional reforms and the liberalization policy of India 1991, introduce the need of financial reform. Securities and Exchange Board of India (SEBI) was established in 1988 to regulate the security market. It has constituted various committees from time to time to efficiently manage the working and development of securities market. Various departments and regional offices manage the affairs of SEBI. The head Office of SEBI is situated at Mumbai. The current Chairman of SEBI is Mr. Ajay Tyagi. Statutory market regulator, which was created in 1992, was suitably empowered to regulate the collective investment schemes and plantation schemes through an amendment in 1999. Further, the power of SEBI have been empowered with compliance and enforcement powers including search and seizure powers through an amendment in SEBI Act in 2002 .SEBI Function is to protect the interests of investors in securities market , promote the development of securities market ,regulate the business in stock exchanges and any other securities markets to promote investors education and training of intermediaries of securities markets, prohibit insider trading in securities regulate substantial acquisition of shares and takeover of companies , register and regulate the working of stock brokers , sub-brokers, share transfer agents, bankers to an issue, trustees of trust deeds, registrars to an issue, merchant bankers, underwriters, portfolio managers, investment advisers and intermediaries associated with securities markets ,register and regulate the working of the depositories, participants, custodians of securities, foreign institutional investors, credit rating agencies , register and regulate the working of venture capital funds and collective investment schemes including mutual funds , promote and regulate self-regulatory organizations .