Securities and Exchange Board of India (SEBI) since its inception has taken lots of innovative steps and rebuilt the trust of investors in Indian stock market. It executes its functions through various departments. Lets have a look at SEBI departments.
SEBI achieves its objective through 20 (twenty) departments viz.
- Commodity Derivatives Market Regulation Department (CDMRD)
- Division of Market Policy.
- Division of Exchange Administration.
- Division of Exchange Inspection and complaints against Exchanges.
- Division of Risk Management and Product
- Corporation Finance Department (CFD)
- Issuance and listing of securities, including initial and continuous listing requirements
- Scheme of arrangements involving merger/ demerger, amalgamation, reduction in capital
- Corporate governance and accounting/auditing standards
- Corporate restructuring through Takeovers/ buy backs
- Delisting, etc.
- Department Economic and Policy Analysis (DEPA)
- Statistics Division
- Publication Division
- Regulatory Research Division
- History Cell
- Policy Research Division
- Systematic Stability Unit
- Division Of Commodity Research (Agriculture)
- Division Of Commodity Research (Non Agriculture)
- Department of Debt and Hybrid Securities (DDHS)
- Primary Issuance and Policy
- Post Issuance, Compliance and Monitoring
- Enforcement Department – 1 (EFD1)
- Division of Regulatory Action
- File and Database Management Division
- Recovery Divisions
- Enforcement Department – 2 (EFD2)
- SAT Litigation Division
- Prosecution Division
- Settlement Division
- Enquiries and Adjudication Department (EAD)
- General Services Department (GSD)
- Treasury and Accounts Division
- Facilities Management Division
- Official Language Division
- Office of the Secretary to the Board
- Protocol and Security Division
- Human Resources Department (HRD)
- Information Technology Department (ITD)
- Integrated Surveillance Department (ISD)
- Investigations Department (IVD)
- Conducting investigations on potentially illegal market activities.
- Providing referrals to the enforcement department.
- Assisting the enforcement department in enforcing SEBI action against violators.
- Investment Management Department (IMD)
- Division of Funds
- Division of Foreign Portfolio Investors and Custodians
- Division of Collective Investment Schemes
- Investor Complaints Cell
- Legal Affairs Department (LAD)
- Divisions of Policy- General
- Division of Policy and Regulatory Affairs for Commodity Derivatives.
- Division of Regulatory Assistance – General
- Division of Regulatory Assistance for Commodity Derivatives
- Market Intermediaries Regulation and Supervision Department (MIRSD)
- Market Regulation Department (MRD)
- Division of Policy (DoP)
- Division of SRO Administration (DSA)
- Division of Risk Management and New Products (DRMNP)
- Division of Market supervision (DMS)
- Investor Complaints Cell (ICC)
- Office of International Affairs (OIA)
- Regulation of securities markets by engaging with international setting bodies and contributing to rule making
- Investor protection by cooperating with foreign regulators on enforcement matters
- Capacity building by developing and imparting technical assistance programs
- Office of Investor Assistance and Education (OIAE)
- Office of the Chairman (OCH)
- Communications Division
- Office of the Executive Assistant to Chairman
- Regional Offices (RO’s)
CDMRD supervises the functioning of commodity derivative market. It has 4 (four) divisions.
The CFD deals with 4 (four) matters-
DEPA has following 8 (eight) divisions
The DDHS is responsible for matters related to Corporate Bonds, listed debt securities, Real Estate Investment Trust, Infrastructure Investment Trust, deemed public issues of debt securities and complaints in respect of aforementioned areas of work. The DDHS has two divisions.
The EFD1 has 3 (three) divisions.
The EFD-2 is responsible for handling Appeals against SEBI orders filed before the Hon’ble Securities Appellate Tribunal (SAT), Appeals filed against the SAT order in the Hon’ble Supreme Court, Criminal Complaints filed by SEBI in appropriate Courts and Settlement Proceedings. EFD-2 has three divisions.
The Enquiries and Adjudication Department handles quasi-judicial matters and provide timely hearings and initiates adjudication brought by the other Departments against alleged violators who are within SEBI’s disciplinary jurisdiction.
The GSD supports all of the internal operations of SEBI. It has 5 (five) divisions.
The HRD department executes its role as human resources authority in SEBI. This department has no divisions.
ITD provides technical support. This department has no division.
The ISD is responsible market surveillance of all segments of securities market. ISD has no division.
The Investigations department is responsible for
The Investment Management department is responsible for registering and regulating mutual funds, venture capital funds, foreign venture capital investors, collective investment schemes, including plantation schemes, Foreign Institutional Investors, Portfolio Managers and Custodians. IMD has following divisions
The LAD is responsible to provide legal counsel to the Board and to its other departments, and to handle non-enforcement litigation. The LAD has following divisions.
The Market Intermediaries Regulation and Supervision Department is responsible for the registration, supervision, compliance monitoring and inspections of all market intermediaries in respect of all segments of the markets viz. equity, equity derivatives, currency derivatives, debt and debt related derivatives and commodity derivative. The Department also handles the work related to registration, supervision, compliance monitoring, inspections, investor grievances and policy related issues as well as fees of various intermediaries. The Department also handles the work related to action against the intermediaries for regulatory violations. Recently, MIRSD has started to monitor intermediaries based on risk based supervision. The new supervisory approach is based upon overall risk assessment of the intermediary rather than on individual factors such as turnover, complaints, penalties, etc. MIRSD handles the following intermediaries.
Counts are as per availabe data on SEBI on 07Jan2018.
|1||Banker to an Issue||64|
|2||Registered Stock Brokers in equity segment||7909|
|3||Credit Rating Agency – CRA||7|
|5||Designated Depository Participants||18|
|6||KYC (Know Your Client) Registration Agency registered with SEBI||5|
|8||Registrars to an issue and share Transfer Agents||69|
|9||Registered Sub-Brokers in equity segment||26576|
The Market Regulation Department (MRD) is responsible for formulation of policy and supervision of functioning and operations of Market Infrastructure Institutions (MIIs) such as Stock Exchanges, Depositories and Clearing Corporations. MRD consists of the following divisions:
SEBI has emerged as a key member of international standard setting bodies and global forums, where it is making effective contribution to their ongoing work programs. With the ever-evolving and dynamic nature of capital markets, it is important to be abreast of global developments while introducing and implementing regulatory measures domestically. Office of International Affairs (OIA), in pursuit of SEBI’s regulatory objectives, is responsible for engaging with a range of foreign regulators, standard setting bodies and law enforcement agencies to promote international regulatory and enforcement cooperation.
OIA’s roles and responsibilities broadly include:-
OIA’s expertise in international market practices, regulations and ongoing international regulatory issues supports SEBI with advice and assistance in international enforcement and regulatory matters.
OIAE supports SEBI’s operations by handling investor complaints centrally and be the focal point of SEBI’s investor education effort. OIAE is the single point interface with investors and receives complaints relating to all departments, forward to the concerned departments, follow up and respond to investors. The office sets up necessary systems and procedures to handle its function.
This department also receive complaints relating to issues, transfer of shares, dividends, compliance with listing conditions, corporate governance issues under the purview of the Corporation Finance department (Division of Issues and Listing) and take follow up action.
OCH is the main office of SEBI chairman. It has two divisions viz.
The Regional Office handles work as per existing delegation and reports to functional heads for specific departmental functions while reporting administratively to SEBI Executive Directors.