One of the common irregularities noted by the Securities and Exchange Board of India during the insp...........

One of the common irregularities noted by the Securities and Exchange Board of India during the inspection of a stock exchange was that it was dealing with unregistered sub-brokers. Identify the related function of Securities and Exchange Board of India

Regulatory function

Protective function

Developmental function

None of the above

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Explanation:

- Regulatory function: This involves the creation and enforcement of rules and regulations to govern the securities market. SEBI ensures that the exchanges and market participants follow these rules, like ensuring only registered brokers operate, hence regulating the market effectively. Correct Answer: Regulatory function

- Protective function: This aims to protect the interests of investors in securities. It involves preventing fraud, ensuring the rights of investors, and making sure their investments are safe.

- Developmental function: SEBI takes steps to develop the securities market and improve its functioning, like introducing better trading practices and technologies.

- None of the above: This option would apply if the scenario didn’t fit regulatory, protective, or developmental roles.