Securities and Exchange Board of India Act, 1992 (the SEBI Act) was improved in the years 1995, 1999 and 2002 to meet the demands of altering needs of the certificates market and answering to the growth in the securities market. Based on the Report of Joint democratic commission (JPC) dated December 2, 2002, the SEBI Act was improved to address certain shortcomings in its commissariat. The mission of SEBI is to make India as one of the best certificates market of the world and SEBI as one of the most abided by regulator in the world. SEBI also endeavors to attain the banners of IOSCO/FSAP.
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