It is necessary to have a robust system in place for complicated algos like that of black box algos.

The key weakness of the circular is the lack of the robust safeguards against the manipulative algorithmic practice, specifically spoofing which is a tactic where large, fake orders are placed to deceive the market.

Taking inspiration from the S-REIT market, SEBI needs to focus on strengthening REIT’s regulatory framework and work on investing in the vast domestic market available through REITs.

SEBI’s ban resolves the illiquidity issue; nevertheless, it also produces new market deformity which includes regulatory arbitrage towards AIFs, uneven playing field, and scarcity of domestic capital India’s startup ecosystem.

Until refinements are made, mutual funds will remain on the sidelines of the pre-IPO market, limited to anchor allocations and public issues as India’s IPO boom continues unabated—while the question of whether protection has inadvertently become exclusion remains unresolved.

SEBI’s accessibility mandate is both progressive and disruptive. It extends the idea of investor protection beyond disclosure and governance to the very ability of investors to participate.

This blog aims to take a look at the strategic shift in how India is trying to positions itself in the global market and facing competition head on vis-a-vis markets like Singapore.

[ Kislay and Sakshi are students at National Law Institute University Bhopal. ] On 3 July 2025, the Securities and Exchange Board of India ( SEBI ) passed an interim order under the Securities and Exchange Board of India Act 1992 against Jane Street, a prestigious American trading firm in the matter regarding index market manipulation in the Indian options trading market by earning massive positions in derivatives amounting up to 4.3 billion dollars. While the SEBI order h

The proposed framework by the SEBI on an accreditation-based framework for AIFs reflects its broader vision to depart from a ‘minimum commitment’ threshold to ‘only accreditation’ status as a standard for risk assessment of an investor.

Mandatory dematerialization prima facie appears to be a welcome step as far as reducing the vulnerabilities and risks of physical shares are concerned. However, it is important to consider that the transition is not without challenges.

SEBI’s proposals for LVFs aim to unveil more capital and relax compliance requirements which are in line with global fund regimes.

The lighter touch approach adopted by the SEBI in regulating the AIF market reflects the proactive attempt to balance the ease of doing business with investor protection.

SEBI’s consultation paper provides a forward-looking approach to ease compliance, maintain uniform standards, and reduce redundant disclosure norms within which the RPTs operate.

This blog seeks to provide an analytical and critical narrative of the policy shift by examining the constitutional, economic, and legal implications of the new fixed-price route.

The article explores the challenges and shortcomings of SEBI’s proposed AI/ML liability framework, particularly its reliance on senior management accountability, while suggesting alternative governance models informed by global best practices, and aims to contribute to the ongoing discourse on corporate and commercial law and aims to contribute to the ongoing discourse on corporate and commercial law.

SEBI, in February 2025, released the regulation for the process of regulation-making to increase transparency and, inter alia, mandated stakeholder consultation and a statement of the regulatory intent and objectives of the proposed regulations. However, as noted, merely articulating the objective without committed engagement with the underlying rationale and the chosen intervention can result in the objective being realized in foreseeably unintended ways.

SEBI’s circular is a good step towards regulating ERPs. However, there is still not enough clarity on what exactly the ratings are trying to achieve.

Owing to the abysmal usage of the IPEF and issues surrounding it, a strong compensation mechanism is required to be set up, either giving express power to SEBI to direct compensation or creating a fund specifically for compensating affected investors due to the violation of any securities law.

HFT's contribution to improving market efficiency and liquidity in India is evident. By consistently placing sizable volumes of buy and sell orders, narrowing bid-ask spreads, and guaranteeing more seamless trade execution, high-frequency trading increases liquidity and enhances market efficiency.

Legal teams and corporate secretaries should therefore start reviewing RPT policies now, for instance, updating internal RPT registers, arm’s-length procedures, and disclosure checklists to reflect the new regime.

SEBI’s 2025 proposals represent a significant evolution, combining empirical data, comparative insight, and statutory modernization. If adopted, these changes would foster a deeper, more diversified pool of anchor investors, strengthen the role of long-term institutions, and produce a more realistic structure for public allocation in large IPOs.

The amendment recognizes the contributions of founders and aims to make it easier for startups to go public. However, it does not fully address the governance risks that arise when control and financial benefits overlap.

While the Consultation Paper is a progressive step towards enhancing operational flexibility for AMCs, the proposed framework requires stronger safeguards to prevent regulatory arbitrage and protect retail investors.

The broad direction of SEBI's reforms is unmistakable: a courageous move away from regulation-as-restraint towards regulation-as-catalyst. India's capital markets are being re-wired to facilitate innovation—not merely technologically, but structurally.