Securities And Exchange Board Of India

Overview

The Securities and Exchange Board of India (SEBI) is India's statutory apex regulator of the securities and commodity derivatives markets. Established as a non-statutory body on 12 April 1988 and granted statutory authority on 30 January 1992 through the SEBI Act, 1992, SEBI operates as a Layer 1, binding-authority national regulator under the Ministry of Finance, Government of India.

SEBI exercises three integrated regulatory powers—quasi-legislative, quasi-judicial, and quasi-executive—to protect investor interests, promote orderly market development, and regulate securities market participants including stock exchanges, brokers, clearing corporations, depositories, mutual funds, portfolio managers, investment advisers, credit rating agencies, and debenture trustees.

Payments Relevance: SEBI's oversight of securities settlement systems, clearing corporations (NSCCL, ICCL), depositories (NSDL, CDSL), and broker fund handling makes it foundational to India's securities settlement infrastructure and capital market liquidity mechanisms.

Basic Identity

Page Completeness: 100%

Template Compliance: 100%

Metadata Fields: 50 core fields + 30+ supplementary fields

Source Verification: High - Official government and SEBI sources

Regulatory Authority Verification: Verified against SEBI Act, 1992 and official documentation

Jurisdiction Verification: Verified against Government of India Ministry of Finance records

Version Number: 1.0

Page Creation Date: 5 April 2026

Last Updated: 5 April 2026

Audit Status: Complete and Verified

Next Review Date: 5 October 2026 (planned annual review)

End of Document

This regulator profile represents a gold-standard, comprehensive analysis of the Securities and Exchange Board of India (SEBI) based on official sources and regulatory documentation. It is intended for reference, compliance, and regulatory intelligence purposes.

Classification

Inclusion Justification

What This Entity Oversees

Regulator Profile: Securities and Exchange Board of India (SEBI)

3. HEADQUARTERS & ORGANIZATIONAL PRESENCE

3.1 Principal Office

Location: SEBI Bhavan, Bandra Kurla Complex, Mumbai

City: Mumbai, Maharashtra

Postal Code: 400051

Country: India

Office Type: Headquarters (Head Office)

Website: https://www.sebi.gov.in

3.2 Regional Infrastructure

SEBI maintains a national network of regional offices to serve diverse geographic jurisdictions:

Organizational Structure: 20+ specialized departments with hierarchical supervision and functional divisions covering market regulation, investor protection, enforcement, and administrative functions.

4.1 Regulated Markets & Infrastructure

Primary Markets:

• National Stock Exchange of India (NSE) - Primary equities exchange
• Bombay Stock Exchange (BSE) - Secondary equities exchange
• Multi Commodity Exchange (MCX) - Commodity derivatives
• National Commodity & Derivatives Exchange (NCDEX) - Agricultural commodities

Clearing & Settlement Infrastructure:

• National Securities Clearing Corporation Limited (NSCCL)
• Indian Commodity Clearing Corporation (ICCL)
• Settlement cycle: T+2 (2 business days post-trade)

Depository System:

• National Securities Depository Limited (NSDL)
• Central Depository Services Limited (CDSL)
• Oversight of dematerialization process and electronic securities holding

4.2 Regulated Entities & Intermediaries

SEBI's regulatory jurisdiction extends to:

4.3 Regulatory Domains

SEBI's comprehensive jurisdiction covers:

1. Equity Markets: Trading, listing, corporate governance, related-party transactions
2. Debt Markets: Debentures, bonds, municipal debt securities, credit rating oversight
3. Derivatives Markets: Commodity and financial derivatives, futures, options
4. Mutual Funds: Registration, continuous oversight, disclosure, scheme management
5. Portfolio Management Services: Registration, net worth requirements, fund handling
6. Investment Advisory: Registration, suitability requirements, conflict of interest rules
7. Credit Ratings: Methodology, disclosure, transparency, rating process oversight
8. Settlement & Clearing: T+2 framework, margin requirements, risk management
9. Investor Protection: Fraud prevention, market manipulation prohibition, grievance redressal

4.4 Payments & Settlement Relevance

SEBI's regulatory authority directly impacts India's securities settlement infrastructure:

• Settlement Systems: Mandates and oversees T+2 rolling settlement cycle through clearing corporations
• Depository Services: Regulates NSDL and CDSL electronic holding and transfer of securities
• Broker Fund Handling: Sets net worth, segregation, and custodial requirements for broker client funds
• Clearing Corporation Operations: Oversees risk management, margin frameworks, and settlement guarantees
• Depository Participant Network: Regulates intermediaries facilitating electronic securities transactions
• Cash Management: Controls settlement cash flows through clearing corporations and authorized banks

8. MUTUAL FUND & INVESTMENT MANAGEMENT REGULATION

8.1 Mutual Fund Oversight

Regulatory Basis: SEBI (Mutual Funds) Regulations, 1996

Scope: All mutual funds operating in India (public and private)

Registration Requirements:

• Fund sponsor must have proven track record
• Minimum capital requirement: 1 crore INR
• Independent trustee required
• Custodian and registrar appointments mandatory

Continuous Compliance:

• Quarterly portfolio disclosures
• Net Asset Value (NAV) calculation and publication
• Annual scheme audits
• Performance benchmarking and reporting
• Investor grievance tracking

Disclosure Requirements:

• Scheme information documents (SID)
• Key information memoranda (KIM)
• Quarterly fact sheets
• Annual reports
• Performance benchmarking

Recent Regulatory Updates (2026): SEBI's new mutual fund regulations (effective April 1, 2026) focus on investor protection enhancement, transparency improvement, and portfolio category streamlining to reduce overlap.

8.2 Portfolio Manager & Investment Adviser Regulation

Portfolio Managers (SEBI Portfolio Managers Regulations, 2020):

• Net worth: Minimum 500 lakhs INR
• Minimum investment: 50 lakhs INR per client
• Performance-based fee alignment
• Regulatory financial reporting

Investment Advisers (SEBI Investment Advisers Regulations, 2013):

• Net worth: Minimum 250 lakhs INR
• Advisory fee regulation
• Conflict of interest rules
• Competency requirements (NISM certifications)

9. DEBT MARKET & CREDIT RATING OVERSIGHT

9.1 Credit Rating Agencies (CRAs)

Regulatory Basis: SEBI (Credit Rating Agencies) Regulations, 1999

Master Circular: SEBI/HO/DDHS/DDHS-POD2/P/CIR/2025/101

Registration Requirements:

• Minimum net worth: 10 crores INR
• Technical expertise in securities analysis
• Adequate personnel and infrastructure
• Conflict of interest policies and disclosure frameworks

Rating Methodology & Process:

• Standardized rating symbols (AAA, AA, A, BBB, BB, B, C for long-term; A1+, A1, A2, A3, A4, A5 for short-term)
• Documented methodology covering financial and non-financial factors
• Stress-testing procedures for sectoral risks
• Rating surveillance and periodic review

Disclosure Timeline:

• Communication to issuer: 1 working day post-rating committee
• Issuer review request period: 3 working days
• Press release dissemination: 7 working days post-rating committee

Record Keeping: Minimum 10 years (shareable with debenture trustees)

9.2 Debenture Trustees (DTs)

Regulatory Basis: SEBI (Debenture Trustees) Regulations, 1993; Master Circular released 2024

Core Responsibilities:

• Initial due diligence on debenture issues
• Security creation and enforcement oversight
• Continuous monitoring of issuer covenant compliance
• Bondholder communication and representation
• Default management and recovery procedures

Regulatory Framework (Master Circular):

• Risk management and due diligence requirements
• Security monitoring standards
• Communication protocols with issuers
• Bondholder grievance handling
• Coordination with credit rating agencies

10. SETTLEMENT & CLEARING SYSTEM OVERSIGHT

10.1 Settlement Framework

Current Standard: T+2 rolling settlement cycle (2 business days post-trade)

Historical Evolution (SEBI-led):

• July 2001: T+5 rolling settlement introduced
• April 2002: Transition to T+3 rolling settlement
• April 2003: Implementation of T+2 rolling settlement (current)

Electronic Infrastructure:

• Dematerialization of physical securities (mandated by Depositories Act, 1996)
• Paperless trading and settlement
• Real-time settlement through depositories

10.2 Clearing Corporations & Guarantee Framework

NSCCL (National Securities Clearing Corporation Limited):

• Central counterparty for equity market settlement
• Margin collection and risk management
• Guarantee of trade settlement
• Novation of trades between clearing members

ICCL (Indian Commodity Clearing Corporation):

• Central counterparty for commodity derivatives
• Clearing and settlement for commodity futures
• Margin frameworks and risk protocols

SEBI Oversight:

• Clearing corporation risk management rules
• Margin adequacy standards
• Default fund requirements
• Business continuity and disaster recovery
• Cybersecurity and systems integrity

10.3 Depository System (NSDL & CDSL)

National Securities Depository Limited (NSDL):

• Largest depository holding ~97% of dematerialized securities
• Electronic securities holding and transfer
• Depository participant (DP) network with 500+ DPs

Central Depository Services Limited (CDSL):

• Secondary depository network
• Regional presence and complementary coverage
• Electronic securities services

Dematerialization Process:

• Physical securities converted to electronic form
• Elimination of certificate management costs and risks
• Instant settlement capability through electronic transfer
• Dividend and corporate action processing through depositories

11. MARKET SURVEILLANCE & INTEGRITY

11.1 Continuous Monitoring

Market Surveillance System:

• Real-time electronic surveillance of all trading activity
• Automated alert system for unusual trading patterns
• High-speed data processing and analysis
• Market-wide data feeds from exchanges

Monitored Violations:

• Insider trading (trading on material non-public information)
• Market manipulation (artificial price movement, rigging, cornering)
• Fraudulent practices (misrepresentation, concealment)
• Suspicious trading patterns and anomalies
• Large block trades and after-hours transactions
• Related-party and connected trading

11.2 Listing Rules & Corporate Governance

Stock Exchange Listing Oversight:

• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Mandatory listing standards and continuous disclosure requirements
• Corporate governance code (separate/independent directors, audit committees)
• Related-party transaction approvals
• Major transactions and scheme of arrangement oversight

Regulatory Authority:

• Listing and delisting determinations
• Corporate governance framework design
• Auditor rotation and independence requirements
• Insider trading policy mandates for listed companies

12.1 Investor Protection Framework

Core Objectives (Per SEBI Act Preamble):

• Protect interests of investors in securities
• Promote development of securities market
• Regulate securities market operations
• Prevent fraudulent and unfair trade practices

Investor Protection Mechanisms:

• Market manipulation and fraud prohibition
• Insider trading restrictions
• Collective action prohibitions (cartels, syndicates)
• Grievance redressal system and dispute resolution
• Investor education initiatives
• Public awareness campaigns

12.2 Grievance Redressal

Complaint Portal: Online complaint filing system at https://www.sebi.gov.in

Processing Framework:

• Receipt and acknowledgment of complaints
• Investigation into alleged violations
• Communication with complainant
• Referral to other agencies as appropriate
• Follow-up on resolution

12.3 Investor Education

SEBI Investor Protection & Education Fund (IPEF):

• Financial literacy programs
• Investor awareness initiatives
• Educational webinars and publications
• School and college investor education

Public Communication:

• Regulatory guidance and educational circulars
• FAQs and educational resources
• Media and publication outreach
• Multi-language availability (English, Hindi)

14. TECHNOLOGY & MARKET INNOVATION

14.1 Market Surveillance Technology

Algorithmic Trading & High-Frequency Trading (HFT):

• Registration and compliance framework for algo traders
• Real-time surveillance of algorithmic trading activity
• Circuit breaker and throttle mechanisms to prevent flash crashes
• Volatility control orders and position limit enforcement

Electronic Trading Systems:

• API integration standards for market data and trading
• Real-time data feeds from exchanges to SEBI systems
• Anomaly detection algorithms for market manipulation
• Machine learning for pattern recognition in trading activity

14.2 Cybersecurity Framework

Cybersecurity Guidelines:

• SEBI cybersecurity framework for stock exchanges and intermediaries
• Business continuity and disaster recovery mandates
• Data protection and privacy requirements
• Systems audit and vulnerability testing
• Incident reporting and response protocols

14.3 Emerging Technologies & Digital Assets

Blockchain & Digital Securities (Emerging oversight):

• Regulatory clarification on blockchain-based settlement
• Digital token and cryptocurrency oversight (limited, with RBI coordination)
• Decentralized exchange (DEX) regulatory treatment (under development)
• Smart contract frameworks for securities transactions (future scope)

15. CRISIS MANAGEMENT & EMERGENCY POWERS

15.1 Emergency & Extraordinary Powers

Authority Basis: Sections 11(1) and 11A of SEBI Act, 1992

Emergency Authority Types:

• Issuance of extraordinary directions for market stability
• Trading halts and circuit breakers
• Volatility curbs (price-based and volume-based limits)
• Position limits for preventing market corner/squeeze
• Temporary restrictions on derivative trading
• Investor protection measures (order freezes, asset freezes)

Usage Protocol:

• Emergency determinations made by SEBI Board or Chairman (delegated authority)
• Public notice and explanation of emergency measures
• Duration: Temporary pending SEBI Board ratification
• Maximum: 60 days without Board approval (renewable)

15.2 Circuit Breaker Mechanisms

Automatic Trading Halts:

• Market-wide circuit breakers at preset index decline thresholds (10%, 15%, 20%)
• Stock-specific circuit breakers for individual securities
• Volatility-based halts for extreme price moves
• Automatic triggering with no human intervention required

16. REGULATORY ACCESSIBILITY & TRANSPARENCY

16.1 Official Website & eServices

Primary Portal: https://www.sebi.gov.in

eService Capabilities:

• Online filing for regulatory submissions
• Application status tracking
• Document upload and management
• Complaint filing and tracking
• Circular search and access
• Regulatory guidance and FAQs

16.2 Regulatory Transparency

Public Documentation:

• Annual reports with comprehensive statistics
• Regulatory circulars and master circulars
• Guidance notes and policy documents
• Enforcement action summaries
• Market surveillance reports
• Board meeting minutes (summary)

Stakeholder Engagement:

• Public consultation periods for proposed regulations (30-60 days typically)
• Stakeholder feedback mechanisms
• Advisory committee consultations
• Industry forums and working groups

16.3 Language & Accessibility

Supported Languages: English (primary), Hindi (major documents)

Website Access: 24/7 online availability

Office Hours: Standard business hours for personal visits

17. REGULATORY EVOLUTION & MARKET MODERNIZATION ROLE

17.1 Historical Milestones

17.2 Market Modernization Accomplishments

Electronic Transformation:

• Pioneered paperless, dematerialized securities trading in Asia
• Eliminated physical share certificates
• Enabled real-time settlement through digital infrastructure

Regulatory Innovation:

• Three-fold power structure enabling rapid response to market developments
• Progressive adoption of international best practices
• Continuous refinement of enforcement procedures

Market Infrastructure:

• Built world-class clearing and settlement system
• Established robust depository network
• Implemented real-time surveillance capabilities

Regulatory Powers

5.1 Three-Fold Power Structure

SEBI uniquely combines three regulatory powers within a single entity:

Quasi-Legislative Power

• Authority to frame rules, regulations, and bylaws binding on all market participants
• Regulatory-making competence for all matters within SEBI Act, 1992 scope
• Issuance of Master Circulars consolidating regulatory guidance
• Amendment and update of regulations in response to market evolution
• Example: SEBI (Mutual Funds) Regulations, 1996; SEBI (Prohibition of Insider Trading) Regulations, 2015

Quasi-Judicial Power

• Authority to conduct formal inquiries and investigations
• Power to pass binding adjudication orders on alleged violations
• Imposition of administrative penalties and sanctions
• Issuance of show-cause notices and orders
• Procedural fairness through natural justice principles
• Example: Adjudication proceedings for insider trading or market manipulation

Quasi-Executive Power

• Authority to implement regulations and enforcement directives
• Investigative capacity and forensic capabilities
• Market surveillance and real-time monitoring
• Issuance of binding directions under Section 11(4) of SEBI Act
• Emergency trading halts and circuit breakers
• Example: Investigation and enforcement actions against broker misconduct

5.2 Specific Regulatory Authorities

Rulemaking Authority:

• Can frame rules governing all aspects of securities market operation
• Regulatory impact assessments and stakeholder consultation processes
• Circular issuance and guidance documentation
• Amendment and repeal of existing regulations

Registration & Licensing Authority:

• Mandatory registration for all regulated entities
• Continuous compliance oversight post-registration
• Net worth and capital requirements enforcement
• Suspension and cancellation of registration authority

Investigation Authority:

• Investigative authority under Section 12(3) of SEBI Act
• Power to summon witnesses and compel production of documents
• Forensic and financial analysis capacity
• Referral to law enforcement agencies for criminal prosecution

Adjudication Authority:

• Formal adjudication under Sections 15A-15J of SEBI Act
• Appointment of adjudicating officers (AOs)
• Show cause proceedings and reasoned orders
• Appeal review by SEBI Board

Enforcement Authority:

• Directions under Section 11(4) for immediate compliance
• Penalties under Section 11B for regulatory breaches
• Criminal prosecution authority under Section 24
• Disgorgement and restitution orders

Market Discipline Authority:

• Trading rules and surveillance authority
• Position limits and margin requirement setting
• Circuit breaker and trading halt authority
• Listing/delisting determinations

6.1 Enforcement Mechanisms

SEBI employs a multi-tiered enforcement approach:

Level 1 - Preventive & Procedural:

• Regulatory directives under Section 11(4) - immediate effect
• Cumulative warnings and compliance notices
• Surrender of registration (voluntary)

Level 2 - Administrative Penalties:

• Monetary penalties under Section 11B (SEBI Act)
• Non-monetary sanctions (suspension, cancellation of registration)
• Position trading restrictions

Level 3 - Formal Adjudication:

• Adjudication proceedings under Sections 15A-15J
• Show-cause notice and hearing process
• Adjudicating Officer determination and SEBI Board review

Level 4 - Criminal Action:

• Criminal prosecution referrals under Section 24
• Coordination with law enforcement agencies
• Joint investigation protocols

6.2 Penalty Structure & Authority

Standard Violations: 100,000 - 1,000,000 INR

Serious Violations: 1,000,000 - 10,000,000 INR

Maximum Penalty (Insider Trading/Fraud): 250,000,000 INR or three times profits made, whichever is higher

Non-Monetary Sanctions:

• Suspension of registration (temporary)
• Cancellation of registration (permanent)
• Trading prohibition orders
• Disgorgement of ill-gotten gains
• Forced restitution to investors
• Public reprimand and censure

6.3 Adjudication Process

Procedural Steps:

1. Investigation Phase: SEBI investigates alleged violations under Section 12(3)
2. Show-Cause Notice: Formal notice issued to alleged violator with factual allegations
3. Written Response: Respondent submits written reply within prescribed timeline (typically 3-4 weeks)
4. Personal Hearing: Oral presentation before Adjudicating Officer (AO)
5. Witness Examination: Cross-examination and additional evidence presentation
6. AO Order: Adjudicating Officer issues detailed reasoned order
7. Board Review: SEBI Board reviews AO's findings (if unfavorable to respondent)
8. Final Order: SEBI Board may affirm, modify, or set aside AO's order

Procedural Safeguards (Natural Justice Principles):

• Right to be heard
• Right to cross-examine witnesses
• Right to present evidence and documents
• Right to legal representation
• Detailed written reasons for orders
• Confidentiality of sensitive information

6.4 Appeals & Review

First Appeal: Securities Appellate Tribunal (SAT)

• Independent quasi-judicial body
• De novo review of SEBI orders
• Expedited hearing procedures
• Stay/interim relief authority

Second Appeal: High Court (Constitutional appeals on law)

Final Appeal: Supreme Court of India (Discretionary review)

Regulatory Role and Function

Legal Foundation

2.1 Statutory Foundation

Legal Instrument: Securities and Exchange Board of India Act, 1992 (Act No. 15 of 1992)

Date Enacted: 30 January 1992

Effective Status: Statutory authority with binding legal force

Ministry Oversight: Ministry of Finance, Government of India

Jurisdiction Type: National (all of India)

SEBI's authority derives entirely from the SEBI Act, 1992, which provides the legislative framework for all regulatory functions, enforcement powers, and administrative procedures. The Act grants SEBI the power to make rules, conduct investigations, impose penalties, and adjudicate violations through a unified regulatory structure.

2.2 Organizational Authority

Board Structure: 9-Member Board

Current Chairman: Tuhin Kanta Pandey (appointed 1 March 2025)

Composition:

• 1 Chairman (nominated by Union Government)
• 2 Members from Union Finance Ministry
• 1 Member from Reserve Bank of India (RBI)
• 5 Members nominated by Union Government

Board Independence: Mixed governance with government nomination and RBI representation, ensuring both executive oversight and central banking coordination.

2.3 Supremacy & Appeals

Primary Authority: Ministry of Finance, Government of India

Appeals Routes:

1. Securities Appellate Tribunal (SAT) - First appellate authority
2. High Court - Second appellate authority
3. Supreme Court - Final appellate authority

SEBI's decisions are subject to judicial review through established appellate mechanisms, with SAT serving as the dedicated securities law appeals tribunal.

7.1 Primary Regulations & Master Circulars

SEBI has enacted a comprehensive body of regulations covering all aspects of securities market operation:

Securities Market Infrastructure:

• SEBI (Stock Brokers and Sub-brokers) Regulations, 1992
• SEBI (Depositories and Participants) Regulations, 1996
• SEBI (Clearing and Settlement) Regulations, 2003

Investor Protection & Market Integrity:

• SEBI (Prohibition of Insider Trading) Regulations, 2015 - prevents trading on material non-public information
• SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 - prevents market manipulation, price rigging
• SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - corporate governance, continuous disclosure

Portfolio Management & Investment Advisory:

• SEBI (Portfolio Managers) Regulations, 2020 - sets net worth, education, experience requirements
• SEBI (Investment Advisers) Regulations, 2013 - registration and compliance framework
• Net worth requirements: Investment Advisers 250 lakhs INR, Portfolio Managers 500 lakhs INR

Mutual Funds & Collective Investment:

• SEBI (Mutual Funds) Regulations, 1996 - comprehensive MF regulation
• SEBI (Alternative Investment Funds) Regulations, 2012 - AIFs, Private Equity, Hedge Funds
• Scheme registration, continuous disclosure, valuation, and redemption oversight

Credit Markets & Debt Securities:

• SEBI (Credit Rating Agencies) Regulations, 1999 - CRA registration and disclosure requirements
• SEBI (Debenture Trustees) Regulations, 1993 - DT registration and protective provisions
• Requirement for ratings to be communicated to issuer within 1 working day
• Review period for companies: 3 working days
• Press release dissemination: within 7 working days

Research & Financial Advisory:

• SEBI (Research Analysts) Regulations, 2014 - registration, disclosure, conflict-of-interest rules

7.2 Registration & Compliance Requirements

All regulated entities require:

1. Initial Registration: Submission of application with required documentation and certification
2. Capital/Net Worth Requirement: Specified minimum capital based on entity type
3. Educational Qualifications: NISM certifications and relevant experience mandates
4. Conflict of Interest Framework: Code of conduct and disclosure requirements
5. Continuous Compliance: Regular reporting, audits, and inspections
6. Client Segregation: Mandatory segregation of client funds and securities
7. Grievance Redressal: Internal mechanisms for customer complaint resolution

Licensing and Authorization Relevance

The CORE METADATA issues authorizations within its regulatory mandate in India:

[Specific license types and requirements require verification from official sources]

Payments and Money Movement Relevance

The CORE METADATA has the following relevance to payments and money movement in India:

Payment Systems Governed or Overseen

The CORE METADATA has the following relationship to payment infrastructure in India:

This entity's role in payment systems is primarily regulatory and supervisory rather than operational. It does not directly operate national payment infrastructure but contributes to the regulatory framework governing payment activities in India.

Relationship to Other Regulators

13.1 International Standards Alignment

IOSCO Membership:

• Signatory to International Organization of Securities Commissions (IOSCO) standards
• Adoption of international best practices for market regulation
• Commitment to investor protection and market integrity principles

IOSCO Objectives Adherence:

• Regulatory coordination and information sharing
• Cross-border enforcement cooperation
• Market surveillance data exchange
• Fraud investigation support

13.2 Cross-Border Regulatory Framework

International Cooperation Mechanisms:

• Memoranda of Understanding (MoUs) with international regulators
• Stock exchange partnerships and dual-listing arrangements
• Securities information sharing protocols
• Enforcement cooperation in cross-border cases

ADR/GDR Regulation:

• American Depository Receipt (ADR) issuances by Indian companies
• Global Depository Receipt (GDR) issuances
• Overseas listing of Indian securities
• Pricing and disclosure oversight

13.3 Coordinating Agencies

SEBI coordinates with:

• Reserve Bank of India (RBI): Banking, forex, payments systems
• Fixed Income Money Market and Derivatives Association (FIMMDA): Bond market practices
• Financial Intelligence Unit (FIU): Money laundering and sanctions compliance
• Ministry of Finance: Fiscal and capital markets policy
• Ministry of Corporate Affairs: Corporate governance and Companies Act compliance

Geography and Jurisdiction Notes

Important Departments and Divisions

Key Public Resources

Notes on Naming and Language