Q.What is SEBI? When was it established and when did it get statutory status?
The Securities and Exchange Board of India (SEBI) is the statutory body responsible for regulating India's securities market and protecting the interests of investors in securities.
SEBI was first constituted on 12 April 1988 as a non-statutory body, through a resolution of the Government of India, at a time when it had no real legal power to enforce its directions. Recognising the need for a regulator with genuine enforcement authority, the Government enacted the Securities and Exchange Board of India Act, 1992, which gave SEBI full statutory powers, effective retrospectively from its original 1988 formation date. Since 1992, SEBI has functioned as India's principal capital-market regulator, headquartered in Mumbai with regional offices in Delhi, Kolkata, Chennai and Ahmedabad.
SEBI was established as a non-statutory body on 12 April 1988 and was given statutory powers under the SEBI Act, 1992.
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