SEBI statutory enforcement powers are greater than its counterparts in the US and the UK as it is armed with far greater power to inflict serious economic injury.There is excessive focus on regulation of market conduct and lesser emphasis on prudential regulation.In recent years SEBI role became more complex, the capital markets regulator is at a crossroads.What are the Issues Associated with SEBI? It also works for promoting and regulating self-regulatory organizations and prohibiting fraudulent and unfair trade practices relating to securities markets.SEBI perform the function of registration and regulation of the working of venture capital funds and collective investment schemes including mutual funds.SEBI board can also seek information, such as telephone call data records, from any persons or entities in respect to any securities transaction being investigated by it. SEBI Chairman has the authority to order "search and seizure operations".or more and attach assets in cases of non-compliance. By Securities Laws (Amendment) Act, 2014, SEBI is now able to regulate any money pooling scheme worth Rs.Intermediaries – By enabling a competitive professional market for intermediaries.Investors – By ensuring safety and supply of precise and accurate information.Issuers – By providing a marketplace in which the issuers can increase their finance.It functions to fulfill the requirements of three categories –. SEBI is a quasi-legislative and quasi-judicial body which can draft regulations, conduct inquiries, pass rulings and impose penalties.What are the Powers and Functions of SEBI? Further, in terms of government notification dated 23rd March, 2015, SAT hears and disposes of appeals against orders passed by the Insurance Regulatory Development Authority of India (IRDAI) under the Insurance Act, 1938, the General Insurance Business (Nationalization) Act, 1972 and the Insurance Regulatory and Development Authority Act, 1999 and the Rules and Regulations framed there under.Consequent to government notification dated 27 th May, 2014 SAT hears and disposes of appeals against orders passed by the Pension Fund Regulatory and Development Authority (PFRDA) under the PFRDA Act, 2013.It is to hear and dispose of appeals against orders passed by the Securities and Exchange Board of India or by an adjudicating officer under the Act and to exercise jurisdiction, powers and authority conferred on the Tribunal by or under this Act or any other law for the time being in force.SAT is a statutory body established under the provisions of the Securities and Exchange Board of India Act, 1992.Further, if any person feels aggrieved by SAT’s decision or order can appeal to the Supreme Court. It has the same powers as vested in a civil court.SAT consists of a Presiding Officer and two other Members.Further, a Securities Appellate Tribunal (SAT) has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision.SEBI also appoints various committees, whenever required to look into the pressing issues of that time.SEBI Board consists of a Chairman and several other whole time and part time members.The regional offices of SEBI are located in Ahmedabad, Kolkata, Chennai and Delhi. The headquarters of SEBI is situated in Mumbai.It became autonomous and given statutory powers by SEBI Act 1992.Initially SEBI was a non statutory body without any statutory power.In April, 1988 the SEBI was constituted as the regulator of capital markets in India under a resolution of the Government of India.Before SEBI came into existence, Controller of Capital Issues was the regulatory authority it derived authority from the Capital Issues (Control) Act, 1947.
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