ABC Ltd. issued prospectus for the subscription of its shares for Rs. 500 crores in 2008. The issue was oversubscribed by 20 times. The company issued shares to all the applicants on pro-rata basis. Later, SEBI inspected the prospectus and found some misleading statements about the management of the company in it. SEBI imposed a penalty of Rs. 5 crores and banned its three executive directors from dealing in securities market for three years.
Identify the function and its type performed by SEBI in the above case.