The preamble to the Securities and Exchange Board of India Act is clear that one of SEBI’s major roles is to work more for protection of regular investors, rather than the big corporates and brokers. But ask any investor and you will be told that the reality is quite the opposite. When a small investor needs redressal against one of these market intermediaries or companies, they rarely suffer serious punishment for misdemeanours. And there is simply no question of getting your money back. “You will not get anything by complaining to SEBI or the Exchanges...” is a phrase often heard in brokers' offices.
 

That’s our opinion based on our interactions with thousands of investors. Our helplines have often come across cases of blatant cheating and fleecing of investors. But what do the savers and investors themselves think? Here are the results from a survey Moneylife conducted some time back. Not surprising, but sad that a majority of participants feel that their complaints go unadressed by the SEBI. The results of the survey are below.
 

Financial consumes are the reason why companies with public shareholding, market intermediaries and the market regulator exist. And yet, their interests are nobody’s priorities. How does one change this? By consistently putting pressure on the regulator. Since individuals cannot do this all by themselves, consumers need to get together. Realising this, Moneylife has gone far beyond writing about flawed products and reglatory mechanisms to actually create a platform which can be the voice of savers and investors – Moneylife Foundation. Part of the foundation's work is to help ordinary citizens with their problems through helplines in Mutual Funds and Insurance. If you need help, please do use these helplines. And spread the word.