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SEBI has issued a circular dated 9 January 2026 (Circular No.:HO/19/34/11(9)2025-AFD-POD1/I/2286/2026) (“Circular”) introducing further simplifications to the framework governing grant of accreditation to investors under the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”). The accredited investor framework was originally introduced pursuant to amendments made to the AIF Regulations as notified on 3 August 2021. … Read more

The Securities and Exchange Board of India (“SEBI”), vide its circular dated 30 January 2026 (HO/38/13/(3)2026-MIRSD-POD/I/3763/2026) (“Circular”), has introduced a significant ease-of-doing-business measure by doing away with the requirement of issuance of a Letter of Confirmation (“LoC”) for credit of securities arising out of various investor service requests. The Circular mandates direct credit of securities … Read more

SEBI vide its circular dated 30 January 2026 (HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026) (“Circular”) has now opened a special window for transfer and dematerialisation of physical securities sold or purchased prior to 1 April 2019, with a view to facilitating ease of doing investment and securing investor rights. Special Window – Scope and Timelines The special window will be … Read more

The Securities and Exchange Board of India (“SEBI”), vide its circular dated 30 December 2025 (HO/19/(8)2025-AFD-POD1/I/1266/2025) (“Circular”), has clarified on the certification requirements applicable to Compliance Officers of Managers of Alternative Investment Funds (“AIFs”). The Circular has been issued pursuant to the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) and it strengthens compliance oversight … Read more

In continuation of its regulatory push towards ensuring inclusive access to securities market infrastructure, SEBI has issued a circular dated 8 December 2025 (“Clarificatory Circular”) providing further clarifications on the digital accessibility framework applicable to regulated entities (“REs”). The Clarificatory Circular builds upon SEBI’s earlier circulars dated 31 July 2025 (Circular No. SEBI/HO/ITD-1/ITD_VIAP/P/CIR/2025/111) and 29 … Read more

SEBI, through an adjudication order dated 12.12.2025, examined allegations of insider trading in the scrip of Refex Industries Limited (“Company”). The proceedings arose from SEBI’s analysis of trading activity preceding the public disclosure of certain price sensitive corporate developments, which seemingly indicated suspicious trades executed by certain persons connected with the Company. Based on its … Read more

The Securities and Exchange Board of India (“SEBI”), vide its circular dated 24 December 2025 (HO/38/13/11(3)2025-MIRSD-POD/I/1102/2025) (“Circular”), has undertaken a further review of the requirements for issuance of duplicate securities certificates. The Circular is aimed at enhancing ease of doing investment, simplifying processes, and facilitating quicker resolution of investor rights, particularly in cases involving loss … Read more

SEBI has notified the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2025 (“Amendment Regulations”), via Notification No. F. No. SEBI/LAD-NRO/GN/2025/273, dated 18 November 2025, with most provisions effective immediately and certain sub-regulations coming into force after 30 days. This amendment marks a notable strengthening of related party transaction … Read more

SEBI through its circular dated 30 October 2025 (HO/38/12/11(1)2025-MIRSD-POD/I/73/2025) (“Circular”), has introduced an interim framework enabling Investment Advisers (“IAs”) and Research Analysts (“RAs”) to communicate certified past performance data to clients for periods prior to the operationalisation of the Past Risk and Return Verification Agency (“PaRRVA”).  The Circular bridges the transition period until PaRRVA becomes … Read more

SEBI through its circular dated 30 October 2025 (HO/38/12/11(1)2025-MIRSD-POD/I/71/2025) (“Circular”), has introduced a facilitative measure aimed at improving ease of doing business for registered Investment Advisers (“IAs”). In our article titled “SEBI ISSUES CONSULTATION PAPER FOR IMPROVING EASE OF DOING BUSINESS FOR IAs AND RAs” in the August 2025 Edition of ‘All Things Listed’, we … Read more