Madhabi Puri Buch: First Woman To Head The Market Regulator
Madhabi Puri Buch, former whole-time member of the Securities and Exchange Board of India (SEBI), has been appointed as its new chairperson — the first woman to head the market regulator. She will hold the position for three years.
- Earlier in January 2022, SEBI launched Saa₹thi – a mobile app on investor education.
- SEBI is a Statutory Body (a Non-Constitutional body which is set up by a Parliament) established on 12th April, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.
- The basic functions of SEBI is to protect the interests of investors in securities and to promote and regulate the securities market.
- The headquarters of SEBI is situated in Mumbai. The regional offices of SEBI are located in Ahmedabad, Kolkata, Chennai and Delhi.
- SEBI Board consists of a Chairman and several other whole time and part time members.
- SEBI also appoints various committees, whenever required to look into the pressing issues of that time.
- Further, a Securities Appellate Tribunal (SAT) has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision.
- SAT consists of a Presiding Officer and two other Members.
- It has the same powers as vested in a civil court. Further, if any person feels aggrieved by SAT’s decision or order can appeal to the Supreme Court.
- SEBI is a quasi-legislative and quasi-judicial body which can draft regulations, conduct inquiries, pass rulings and impose penalties.
- It functions to fulfill the requirements of three categories:
- Issuers: By providing a marketplace in which the issuers can increase their finance.
- Investors: By ensuring safety and supply of precise and accurate information.
- Intermediaries: By enabling a competitive professional market for intermediaries.