Division of Policy - General
The division would work to formulate SEBIâs legislative initiatives and review and comment upon proposed legislation that would affect the securities industry or SEBIâs authority or operation. It would handle testimony and statutory drafting assistance. The division would also be responsible for establishing a clear legal framework and basis for the various categories of SEBI pronouncements (e.g. regulations, guidelines, circulars, instructions, etc.,); the hierarchy of their force and effect; the procedure for their promulgation, amendment or repeal.
Division of Policy and Regulatory Affairs for Commodity Derivatives
The division would be responsible for drafting of policies for establishing a clear legal framework relating to commodity derivatives. It will assist SEBI in promulgating, amending or repealing various legislative instruments such as regulations, guidelines, circulars, instructions, etc. or handling legal issues relating to bye-laws and rules of Commodities Exchanges. The division shall also handle litigation involving vires of legislative instruments relating to commodities derivatives and coordination with various agencies on policy issues. Legal opinion on policy issues for commodities derivatives and comments on other ancillary laws (such as APMC Acts) shall also be handled by the division.
Division of Regulatory Assistance for Commodity Derivatives
The division would support other SEBI departments in meeting their objectives by providing assistance and guidance wherever necessary in developing market rules and interpretations. It will also handle non-enforcement litigation, Human resource related matters, Right to Information (RTI) and Parliamentary Queries (PQ) matters and informal guidance on issues relating to commodities derivatives.