SEBI has power to register and regulate all market intermediaries and also to penalize then in case of violation of the provisions of the Act.
The orders of SEBI under the securities laws are appealable before a Securities Appellate Tribunal. The powers under the Companies Act relating to issue and transfer of securities and non-payment of dividend are administered by SEBI
Securities Contracts (Regulation) Act, 1956 : This Act provides for direct and indirect control of virtually all aspects of security trading and the running of stock exchanges and aims to prevent undesirable transactions in securities.
SCRA gives central Govt. and SEBI regulatory jurisdiction over - a) stock exchange through a process of recognition and continued supervision, b) contracts in securities, and c) Listing of securities on stock exchanges.
The stock exchanges determine their own listing regulations which have to conform to the minimum listing criteria set out in the Securities Contract Rules.