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Improving the legal process in enforcement at SEBI

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  • Dharmishta Raval

    ()
    (Indira Gandhi Institute of Development Research)

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    Abstract

    The first statutory regulatory body that the government of India set up post the reforms of 1991 was the Securities and Exchanges Board of India (SEBI). As a regulator for the securities markets, SEBI was given the powers to create subordinate legislation and to investigate wrong-doing and impose relevant penalties. In this paper, we examine and describe the legal processes at SEBI with a focus on the enforcement process, particularly on the quasi-judicial functions. We make an attempt to lay out the principles that ought to drive such functions in a regulatory body, against which we compare the current workings at SEBI. We propose a series of improvements through which the rule of law could be further strengthened.

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    Bibliographic Info

    Paper provided by Indira Gandhi Institute of Development Research, Mumbai, India in its series Indira Gandhi Institute of Development Research, Mumbai Working Papers with number 2011-008.

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    Length: 40 pages
    Date of creation: Apr 2011
    Date of revision:
    Handle: RePEc:ind:igiwpp:2011-008

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    Related research

    Keywords: enforcement process; securities market regulation;

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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Interesting readings
      by Ajay Shah in Ajay Shah's blog on 2011-05-20 04:33:00
    2. Interesting Readings for May 20, 2011
      by Ajay Shah in Citizen Economists on 2011-05-20 17:20:24

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