SEBI

We have till now seen three categories of market players.

1. The guys who issue securities (companies)

2. The guys who invest in these securities (both retail and institutional investors)

3. The guys who facilitate the trade (brokers)

SEBI or Securities and Exchange Board of India is the market regulator who defines the rules of the game. It first drafts policies and procedures, then monitors the actions of the market participants and then passes rulings and judgments.

Over the past few years, SEBI has played an active role in responding to the needs of the markets and pushing in a lot of regulatory improvements. Nevertheless, not all people share this view..