Discussion
The Securities and Exchange Board of India was not entrusted with the function of
Answer: D
Correct answer: Improving the earning of equity holders
SEBI has no mandate to improve what shareholders earn. Investment returns depend on company performance and market conditions, and a regulator that guaranteed or targeted returns would be underwriting risk that properly belongs to the investor.
Its statutory functions are to protect the interests of investors, to promote the development of the securities market and to regulate it - which covers ensuring fair practice by companies through disclosure and governance requirements, and promoting efficient service by brokers and other intermediaries through registration and conduct rules.
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