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Madhabi Puri Buch: New Chairperson of SEBI

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.