Mr. U.K. Sinha, Chairman, Securities and Exchange Board of India (SEBI) inaugurated the new premises of the local office of SEBI at (Kasumpti) Shimla today. The mandate entrusted to SEBI by the Parliament is threefold – protection of the interests of the investors in securities, regulation of the securities market and development of the securities market.
For promoting a balanced PAN India Securities market and inorder to bring physical proximity of SEBI offices to the investors and intermediaries, SEBI has decided to open local offices in various parts of the Country. SEBI has already opened local offices at Bengaluru, Hyderabad, Kochi, Guwahati, Bhubaneswar, Patna, Ranchi, Chandigarh, Lucknow, Dehradun, Jaipur,Indore, Raipur and Panaji.
The jurisdiction of the local office at Shimla whose new premises was inaugurated today extends to the State of Himachal Pradesh. The local office of Shimla is under the administrative control and jurisdiction of SEBI’s Regional Office at New Delhi. The functions of the Shimla local office includes facilitating the redressal of investor grievances against listed companies and market intermediaries, to spread investor education and financial literacy, processing the applications for Investment Advisors within its jurisdiction and such other functions as may be delegated from time to time to the Local Offices.
After the unveiling ceremony a dialogue session was held at a private hotel attended by the Mr. Sinha and other officials of SEBI. The topic of the dialogue was “SME Funding : Role of Capital Market”. Manging Director and CEO of Bombay Stock Exchange Mr. Ashish Kumar Chauhan and Executive Director of SBI Mr. S.V. Murali Dhar Rao were present on the occasion.