SEBI, as a securities market regulator, has been initiating various policies and programmes year after year, to provide enhanced investor protection and to promote regulation and development of securities market of India. These efforts which started with the inception of SEBI in 1992 have been consistently in place for now almost three decades. All these years, due to these efforts of SEBI, the Indian securities markets have experienced a transformation from a highly controlled merit based regulatory regime to a market oriented disclosure based regulatory regime.

One of the important aspects of securities market is its efficiency measured in terms of dissemination of information by all market participants for stock prices are affected by it.

Thus disclosure of various forms of information by various market players, in particular the companies that have or intend to raise funds from the public, is of utmost significance. The medium of such information dissemination can be annual reports of companies which have already raised money from public and Offer Document (Prospectus) for those intending to ‘Go Public’. Every year, SEBI, in order to bring transparency in the securities market operation, has emphasized on developing a culture of “Full and Fair Disclosures”. For this it has implemented various policies and programmes which have gone a long way in achieving the goal of transforming Indian Securities Market into a developed one.

Through this research article of academic interest, an effort is being made to track various significant initiatives taken by SEBI to promote a culture of continuous disclosure by the companies, with the aim of achieving enhanced investor protection and promotion and regulation of Indian Securities markets.

For this study, the last five years Annual Reports of SEBI has been made as the base. Reference has also been made to various research works compiled by others in this area. It has been observed from the study, that SEBI has been doing a commendable job in terms regulating the markets as Indian securities markets have earned international respect and confidence. The testimony of this, as per a World Bank’s Report, India ranks 7th in 2014 for Investor Protection out of 189 economies which were part of the assessment. Whereas in 2012 it was at 49th rank and in 2013 it was 34th..