Advanced International Journal for Research

E-ISSN: 3048-7641   •   Impact Factor: 9.11

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Volume 7 Issue 1
January-February 2026

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Regulatory Independence in Financial Markets (SEBI vs SEC & FCA)

Author(s) Dr. Amit Mishra
Country India
Abstract Regulatory independence is a foundational element of effective financial market governance, particularly in jurisdictions experiencing rapid market expansion and increasing integration with global capital flows. This article undertakes a comparative analysis of the institutional independence of the Securities and Exchange Board of India (SEBI) with that of the U.S. Securities and Exchange Commission (SEC) and the U.K. Financial Conduct Authority (FCA). It examines the constitutional and administrative dimensions of regulatory autonomy, focusing on appointment processes, enforcement powers, judicial oversight, accountability mechanisms, and susceptibility to executive influence. The study situates SEBI’s regulatory framework within India’s constitutional structure, assessing whether its extensive delegated powers are balanced by adequate safeguards against arbitrariness and regulatory capture. By drawing on comparative regulatory practices, the article identifies structural limitations in India’s current model and advances context-sensitive reform proposals aimed at strengthening SEBI’s independence without undermining democratic accountability. The analysis contributes to contemporary legal scholarship by demonstrating how regulatory independence, when constitutionally grounded and institutionally reinforced, enhances investor protection, market integrity, and regulatory credibility in emerging market economies.
Keywords Regulatory Independence; SEBI; Securities Regulation; Comparative Financial Regulation; Constitutional Governance; Investor Protection; Market Integrity; Democratic Accountability; Regulatory Reform; Global Capital Markets etc.
Published In Volume 7, Issue 1, January-February 2026
Published On 2026-01-02
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E-ISSN 3048-7641
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