SEBI Issues Updated Master Circular for Stock Brokers

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  • Last Updated on 19 June, 2025

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SEBI Master Circular for Stock Brokers

Master Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/90, Dated: 17.06.2025

The Securities and Exchange Board of India (SEBI) has released an updated Master Circular for Stock Brokers, effective as of June 10, 2025. This consolidated circular serves as a comprehensive compilation of all applicable directions and guidelines for stock brokers, providing clarity and regulatory consistency.

1. Supersedes Previous Master Circular

The newly issued Master Circular replaces the earlier Master Circular dated August 09, 2024. With this update, SEBI aims to simplify the regulatory landscape by offering a single reference point for all relevant compliances and obligations applicable to stock brokers.

2. Withdrawal of Earlier Circulars

As part of the consolidation, SEBI has clarified that the directions and instructions contained in the circulars listed in the Appendix to the previous Master Circular, to the extent they pertain to stock brokers, are now rescinded. This step eliminates redundancies and ensures that all operative provisions are housed within the new Master Circular.

3. Objective and Impact

This updated Master Circular is intended to enhance regulatory clarity, promote ease of compliance, and streamline the supervisory framework for market participants. Stock brokers are advised to carefully review the new circular and align their practices accordingly.

Click Here To Read The Full Circular

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied