Securities and Exchange Board of India

SEBI does not make investment decisions — it is a statutory regulator, not a market participant. The Chairperson, Tuhin Kanta Pandey as of March 2025, leads the organization's regulatory and enforcement functions. The board includes representatives from the Reserve Bank of India and the Ministry of Corporate Affairs, ensuring coordinated oversight across financial and corporate governance domains.

SEBI operates as a statutory body under the Ministry of Finance with quasi-legislative and quasi-judicial powers. It directly regulates stock exchanges, brokers, investment advisers, mutual funds, and alternative investment funds. Its board-level integration with the central bank and Ministry of Corporate Affairs distinguishes it from single-mandate regulators in other jurisdictions.

SEBI's Alternative Investment Fund and Foreign Portfolio Investors Department manages the registration, compliance, and disclosure requirements for foreign portfolio investors (FPIs). The regulator has tightened ultimate beneficial ownership norms to prevent round-tripping and ensure transparency in foreign capital flows into Indian markets. SEBI also sets position limits and know-your-customer standards that FPIs must follow.

SEBI does not manage commercial investment portfolios. It administers a General Fund to finance its regulatory operations and an Investor Protection & Education Fund, which supports financial literacy programs and investor awareness initiatives. The organization's financial resources are directed entirely toward its regulatory mandate, not market participation.

SEBI is an ordinary member of the International Organization of Securities Commissions (IOSCO) and sits on the IOSCO Board, contributing to global securities regulation standards. It is also a member of the Financial Stability Board, the international body monitoring systemic risk in the global financial system. This membership supports cross-border enforcement cooperation and regulatory alignment.

SEBI is the primary regulator for India's stock exchanges, including the National Stock Exchange and BSE. It licenses exchanges, sets their governance and operational standards, and monitors trading activity for market manipulation and insider trading. Exchanges operate within the regulatory framework SEBI defines, and SEBI has authority to investigate and sanction exchange participants for non-compliance.

SEBI regulates a broad range of vehicles: stock exchanges, clearing corporations, mutual funds, portfolio managers, investment advisers, research analysts, alternative investment funds (AIFs), real estate investment trusts (REITs), infrastructure investment trusts (InvITs), and foreign portfolio investors. Its mandate covers both retail-facing products and institutional capital pools.