SEBI Master Circular on Securities Market Surveillance ...
Market Surveillance Circular Strengthens Trading Transparency, Insider Disclosure Rules and Intermediary Compliance Mechanisms
April 24, 2025
Circulars SEBI
SEBI Master Circular on Securities Market Surveillance consolidates provisions for market intermediaries, focusing on three key areas: trading rules, market communication protocols, and insider trading disclosure requirements. The circular introduces system-driven disclosure mechanisms, establishes comprehensive guidelines for trading window restrictions, and mandates strict internal controls for market intermediaries to prevent unauthorized information circulation. Key regulatory objectives include enhancing market transparency, protecting investor interests, and preventing potential market manipulation through structured surveillance and reporting frameworks.
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