<Li> issuers of securities </Li> <P> SEBI has three functions rolled into one body: quasi-legislative, quasi-judicial and quasi-executive . It drafts regulations in its legislative capacity, it conducts investigation and enforcement action in its executive function and it passes rulings and orders in its judicial capacity . Though this makes it very powerful, there is an appeal process to create accountability . There is a Securities Appellate Tribunal which is a three - member tribunal and is headed by Justice JP Devadhar, of the Bombay High Court . A second appeal lies directly to the Supreme Court . SEBI has taken a very proactive role in streamlining disclosure requirements to international standards . </P> <P> For the discharge of its functions efficiently, SEBI has been vested with the following powers: </P> <Ul> <Li> to approve by − laws of Securities exchanges . </Li> <Li> to require the Securities exchange to amend their by − laws . </Li> <Li> inspect the books of accounts and call for periodical returns from recognized Securities exchanges . </Li> <Li> inspect the books of accounts of financial intermediaries . </Li> <Li> compel certain companies to list their shares in one or more Securities exchanges . </Li> <Li> registration broke </Li> </Ul>

Which of the following body regulates securities trading in india