Which Tribunal has been constituted to protect the

Solution

• Securities Appellate Tribunal (SAT) has been constituted to protect the interest of entities that feel aggrieved by SEBI’s decision.
• SAT is a statutory body established under the provisions of the Securities and Exchange Board of India Act, 1992.
• SAT consists of a Presiding Officer and two other Members.
• It has the same powers as vested in a civil court.
• If any person feels aggrieved by SAT’s decision or order can appeal to the Supreme Court.
• SEBI has restructured its advisory committee on market data that recommends policy measures pertaining to areas like securities market data access and privacy
• The panel will now be chaired by S Sahoo, Professor at National Law University, Delhi and former chairperson, Insolvency and Bankruptcy Board of India (IBBI).
• The 20-member committee was earlier headed by Madhabi Puri Buch, ex-whole-time member of SEBI.
• Apart from S Sahoo, the panel has CEOs of stock exchanges and depositories, representatives of various stakeholders and senior officials of SEBI as members.