A story I did last week, in the organisation I work for currently, on India's stock market regulator SEBI's own financial statement for 2015-16 (Apr-Mar) which the regulator released last week, almost a year after the 2015-16 financial year got over. It has taken SEBI almost 25 years to make its own financials public.
SEBI
2015-16 annual accounts show 52% YoY rise in total expenditure
Mar 23, 2017
NEW
DELHI - The capital markets regulator, Securities and
Exchange Board of India, spent 2.64 bln as staff costs in financial year
2015-16 (Apr-Mar), up 67% on year, while administrative expenses rose 32% on
year to 778 mln rupees.
This was revealed today in SEBI's annual
accounts for 2015-16 which was made public by the regulatory body today on its
website.
SEBI's total expenditure stood at 3.74 bln
rupees, up 52% on year, while its total income was 6.02 bln rupees in 2015-16,
up 17% on year.
Staff costs were termed as establishment
expenses by SEBI in its annual accounts and nearly three-fourth of it was
through salaries and wages with remaining being allowances, bonuses, and other
expenses.
The regulator makes most of its money from
the intermediaries and other entities it regulates in the securities market. In
2015-16 (Apr-Mar) it collected fees and subscriptions from the regulated entities
to the tune of 3.91 bln rupees, up 21% on year.
SEBI also earned income from investing its
accumulated cash reserves which is kept in a general fund account. Its income
from investments, which were predominantly in bank deposits, was 1.86 bln rupees
in 2015-16, up 9% on year.
Interestingly, the highest fee collection
by SEBI is from equity derivatives segment brokers of the stock exchanges. SEBI
collected 786 mln rupees from them in 2015-16, 11% more than the year ago
period. Fees for offer documents filed by companies and mutual funds amounted
to 730 mln rupees in 2015-16, down 2.5% on year.
Registration, annual, renewal and other
charged by SEBI to foreign portfolio investors and their sub-accounts amounted
to 609 mln rupees in 2015-16, up 40% on year.
Among other intermediaries, SEBI collected
342 mln rupees from cash market segment brokers of stock exchanges in 2015-16,
up 6% on year, while it got 339 mln rupees worth of takeover fees from
companies which was 24% lower than the year ago figure.
After transferring the excess of income
over expenditure to it, the general fund account of SEBI had 28.22 bln rupees
on Mar 31, up from 24.58 bln rupees a year ago.
End.
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