Market regulator Sebi on Tuesday opened its local office in the city as part of its efforts to reach out to investors across the country. The local office was inaugurated by Sebi chairman UK Sinha here. As part of its decentralisation of work to regional offices, the Mumbai-headquartered Sebi is opening new local offices in different regions of the country. To establish an office in Hyderabad was decided by Sebi’s board in 2011. Irda chairman TS Vijayan and Sebi’s whole-time member Rajeev Agarwal were also present on the occasion.
In August, Sebi ( Securities and Exchange Board of India) had said it would open five more local offices at Chandigarh, Jaipur, Indore, Patna or Bhubaneswar and Banglore or Kochi in the current fiscal. Sebi is looking to strengthen its regional offices since physical proximity of the regulator’s office to investors and intermediaries would promote deepening and broadening of the securities market.