Ajay Pal Singh, Army Institute of Law, Mohali
Financial Markets are a key component of the any Financial System including that of India. Subsequently, the Financial Regulators act as a vital cog in the financial system as well. One such regulator is Securities Exchange Board of India (SEBI) established in its present form under Section 3(1) of SEBI Act, 1992. SEBI has played a key role in promoting transparency in the Indian Capital markets. It performs Regulatory, Protective and Developmental Roles, and has wide Quasi-Judicial, Legislative and Executive powers, in the context of capital, securities, primary, secondary, forex, commodities, derivatives, and futures market. SEBI regulates the Capital Market by protecting the interest of investors and establishing the rules and regulations for the development of the Capital market. Thus, SEBI provides a dynamic and investment friendly environment to the issuers of securities, the investors and the market intermediaries. This article attempts to explain the various roles and powers of SEBI under relevant statutory provisions i.e., the SEBI Act, 1992.