Constitution and Organization of SEBI

The SEBI is body of six members comprising the chairman,two member from the official of the ministry of central bank dealing with finance and law , two members who are professionals and have experience or special knowledge relating to securities market ,and one member from RBI .All the member except the RBI member are appointed by government who also lays down their terms of office,tenure and conditions of services ,and who also removes any member from the office under any circumstances .The central govt is empowered to supersede the SEBI in pblic interest or if ,on account of grave emergency and some other circumstances.

The work of it has been organized into five operational department each of which is headed by an executive director who report to Chairman.Besides, there is a legal Department and Investigation Department.The department are further divided into division.

The various department are as follows.

• The primary Market Policy ,Intermediaries ,Self regulatory ,Organizational and Investor Grievance and Guidance Department
• The Issue Management and Intermediaries department
• The Secondary Market policy ,Operation and Exchange Administration ,New Investment Products and Insider Training Department.
• The Secondary Market Exchange Administration ,Inspection and Non -Member intermediaries Department
• Institutional Investment (Mutual Fund and Foreign Institutional Investment ),Merger and Acquisition ,Research and Publication,and International Relation and IOSCO Department.
• Legal Department
• Investigation Department

The SEBI has regional offices at Calcutta,Chennai and Delhi .IT has also formed two non statutory advisory committee namely Primary market Advisory Committee and Secondary Market Advisory Committee with members from market player ,recognized investor association and other eminent person.

SEBI is member of IOSCO ,which is an international body comprising of security regualator from 100 countries .

In my next post I would to talk about SEBI’s Power ,Scope and Function in short.

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