SEBI: Composition, powers
Composition of SEBI
- The functions of sebi are carried out by a board of 9 members – 1 chairman and 8 members
- The chairman of sebi is nominated by central government
- Two members are nominated by the finance ministry of india.
- The reserve bank of india nominates one member to the sebi board.
- Rest of 5 members (3 of them must be full time) are nominated by the government of india.
- The current chairman of sebi is Mr. ajay tyagi.
Powers of SEBI
For the discharge of its functions efficiently, sebi is vested with the following powers:
- To approve by-laws of stock exchanges.
- To require the stock exchange to amend their bylaws.
- Inspect the books of accounts and call for periodical returns from recognized stock exchanges.
- Inspect the books of accounts of financial intermediaries.
- Compel certain companies to list their shares in one or more stock exchanges.
- Registration brokers.