SEBI has called for applications for the post of Deputy Legal Adviser(s) to strengthen its legal team, tighten regulations and take enforcement actions. SEBI annunal reports say that there are 3,656 cases pending for enforcement of action as on March 31. At present SEBI has two legal advisers and deputy advisersin its Legal Department.
There is an Executive Director (Law) who looks after the legal affairs of SEBI and Enforcement Departments. The later is responsible for proceedings related to regulatory action and obtaining redress for violation of securities laws. It also take care of proceedings related to regulatory action against all market participants, issuers and individuals.
While the Legal Affairs provide legal counsel to SEBI and its other departments.
OneIndia News (With inputs from Agencies)