The And Exchange Board Of India

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INTRODUCTION The neo-economic liberalization undertaken in India in the 1990s, lead to a new and improved market structure. It redefined the roles of the various agents in the economy and founded a system based on the market forces. It was in the backdrop of these changes that there was a marked shift in the role of the government from an agent that ran businesses to an agent that primarily undertook regulation and supervision to ensure optimization in the running of the businesses in India. This shift in the role of the state ushered in an era of regulators . The regulators embodied the expertise, domain knowledge and the impartiality that the government influenced by the political party in power could not effectively provide. It was…show more content…
The Intermediaries Regulations 2008, were notified in May 2008 and brought about substantial changes in the treatment and compliance requirements of intermediaries in the Indian securities market. This paper seeks to analysis the functioning of the aforesaid regulations in the context of the Indian securities market. It begins with a brief introduction on the meaning and definition of intermediaries along with the circumstances in which the Intermediaries Regulations, 2008 were enforced. The next section delves deeply into the various provisions of the regulations. The concluding section deals with the success of the regulations and tries to identify lacuna in the implementation to create a more efficient system for regulating the securities markets that the SEBI is trying to achieve. DEFINITION OF INTERMEDIARIES AND THE NEED FOR THE INTERMEDIARIES REGULATIONS, 2008 Before any progress can be made in determining the exact regulatory structure envisaged by the Intermediaries Regulations of 2008, it is important to discuss the scope of the term intermediaries and the various agents of the market that it seeks to incorporate within its ambit. In common parlance, intermediaries can be understood as middlemen. With the expanding markets and opening
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