The Securities and Exchange Board of India Act, 1992

The Securities and Exchange Board of India Act, 1992 is a key Indian law that provides for the establishment of the Securities and Exchange Board of India (SEBI) to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market. The Act sets out the powers and functions of SEBI, including its role in regulating the stock exchanges, registering and regulating intermediaries such as brokers and mutual funds, prohibiting fraudulent and unfair trade practices, and enforcing investor protection measures. The Act also provides for the establishment of a Securities Appellate Tribunal to hear appeals against SEBI's orders. The Act has been amended several times to keep pace with changing market conditions and to improve investor protection.