Applicability and definitions
Identify entity, activity and exclusions.
Master Circular for Stock Brokers (2025-06-17)
Reviewed by Ravi Sisodia · Last reviewed 19 July 2026
Paragraph-wise control map for Stock brokers; dated 2025-06-17.
2025-06-17Stock brokersCurrent circular inventory
Paragraph map
Registration and continuing conditions
Map eligibility, capital, fit-and-proper and infrastructure.
Governance and compliance officer
Assign Board, trustee, key-person and compliance responsibility.
Client/investor onboarding
Apply KYC, agreements, risk disclosure and suitability where applicable.
Operational conduct
Map permitted processes, segregation, conflicts and prohibited practices.
Disclosure and reporting
Build periodic/event/transaction filing and website controls.
Inspection, audit and records
Preserve books, system logs, certifications and inspection readiness.
Supersession and circular concordance
Identify consolidated circulars, saved actions and later amendments.
Primary sources & verification — Versioned-master-circular control
Reviewed: 22 August 2026.
Use the 17 June 2025 Stock Brokers master circular as a dated consolidated source and check subsequent SEBI circulars before applying a paragraph as the current operational rule.
Practical verification checklist
- Record the paragraph/circular date.
- Check later broker circulars and amendments.
- Preserve historical version identity.
Primary-source checkpoint
Use the controlling statute, notified rule/instrument, official portal and later authoritative treatment for the relevant date. This page remains an educational/professional reference.
Evidence and verification checklist
- Confirm the current, in-force text governing Master Circular for Stock Brokers (2025-06-17) on the official source linked above - the summary on this page is an implementation aid, not a substitute for it.
- Record the exact event/transaction date, since the applicable version of the law, form or threshold can change between the date of the underlying event and today.
- Preserve the primary documents (notices, applications, orders, acknowledgements) that would let a reviewer reconstruct how the facts were classified and what was actually done.
- Check for a State-specific rule, later amendment or binding judicial decision that may modify how this applies on your facts.
Before relying on this page
This page is a structured implementation summary, not the operative legal text. Portal or process acceptance of a filing does not by itself establish legal compliance - the underlying classification, authority, evidence and timeline still have to be independently correct. Where the facts are contested, high-value, or time-barred if delayed, verify the current position with the official source and, where appropriate, a qualified professional before acting.