Question
Download Solution PDFThe Securities and Exchange Board of India was established in the year:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 1992.
Key Points
- The Securities and Exchange Board of India (SEBI) was established in 1992 as a statutory regulatory body under the SEBI Act, 1992.
- It was created to protect the interests of investors in securities and promote the development and regulation of the securities market in India.
- SEBI's headquarters is located in Mumbai, Maharashtra, with regional offices in New Delhi, Chennai, Kolkata, and Ahmedabad.
- The regulator oversees activities related to the stock market, mutual funds, brokers, sub-brokers, and other intermediaries involved in the securities market.
- The establishment of SEBI marked a significant milestone in strengthening market transparency and curbing unethical practices in the Indian financial sector.
Additional Information
- SEBI Act, 1992:
- The SEBI Act, 1992, grants SEBI the authority to regulate and develop India's securities market.
- It empowers SEBI to investigate, impose penalties, and take legal action against entities violating market regulations.
- The Act also provides SEBI with the power to draft regulations for market participants and intermediaries.
- Functions of SEBI:
- Protecting investor interests through transparency and disclosures.
- Regulating stock exchanges, brokers, and other intermediaries.
- Promoting the development of the securities market and ensuring its orderly functioning.
- Prohibiting fraudulent and unfair trade practices in the market.
- Key Regulations Introduced by SEBI:
- Takeover Code (1994) – Regulating mergers and acquisitions of listed companies.
- Insider Trading Regulations (1992, revised later) – Preventing misuse of confidential information.
- Mutual Fund Regulations – Ensuring transparency in mutual fund operations.
- Role in Investor Education:
- SEBI actively conducts workshops and campaigns to educate retail investors.
- It provides resources like investor guides and complaint redressal systems to ensure informed investment decisions.
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