Consider the following statements about the role of the Securities and Exchange Board of India (SEBI):
- SEBI regulates the securities market to protect the interests of investors.
- SEBI promotes the development of the securities market by introducing new products and services.
- SEBI has the authority to impose penalties on market participants for violations of securities laws.
Which of the above statements are correct?
1
1 and 2 only
2
2 and 3 only
3
1 and 3 only
4
2 only
5
1, 2, and 3