The Preamble of the Securities and Exchange Board of India describes the basic functions of the Securities and Exchange Board of India as “…to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected there with or incidental there to”.
SEBI has to be responsive to the needs of three groups, which constitute the market:
- issuers of securities
- investors
- market intermediaries
- SEBI has three functions rolled into one body: quasi-legislative, quasi-judicial and quasi-executive. It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity. Though this makes it very powerful, there is an appeal process to create accountability. There is a Securities Appellate Tribunal which is a three-member tribunal. A second appeal lies directly to the Supreme Court. SEBI has taken a very proactive role in streamlining disclosure requirements to international standards
- Substantial acquisition and takeover.
- Preferential allotment and pricing guidelines.
- Price rigging, insider trading, price manipulation
- Advice on portfolio management services
- Brokers’ registration, multiple memberships.
- Appeals before securities appellate tribunal (sat)
- Preparation of a compliance obligation set listing out the various regulatory obligations as prescribed by SEBI.
- Create your compliance framework for SEBI registration intermediary which would include the following policies and manuals
- Compliance Manual
- Anti-Money Laundering (AML) Policy
- Client Acceptance Procedures including Risk Profiling of Clients,
- KYC procedures and checklist
- Procedures for establishing suitability of advice for investment -advisors
- Code of Conduct
- Personal Trading Policy
- Chinese Wall Policies
- Business Continuity Plan (BCP)
- Assist your Firm and your investee companies in framing AML & CFT and Anti-bribery and corruption policies for Private Equity Fund registered with SEBI.
