CIRCULAR
HO/38/11/(5)2026-MIRSD-POD/I/5130/2026 February 17, 2026
To,
All Recognized Stock Exchanges
All Clearing corporations
Madam / Sir,
Sub: Forms for registration of stock brokers and clearing members
1. Under Schedule I of Securities and Exchange Board of India (Stock Brokers)
Regulations, 1992 (repealed), the application forms for registration of stock broker
and clearing member along with certificate of registration were specified.
2. SEBI (Stock Brokers) Regulations, 2026 provides that such form shall be specified
by Board or recognised stock exchange. In view of the same, the application forms
and certificate of registration have been specified under Annexure.
3. The provisions of this circular shall come into force, retrospectively, from the date
of notification of Securities and Exchange Board of India (Stock brokers)
Regulations, 2026 i.e. January 07, 2026.
4. The Stock Exchanges/Clearing Corporations are directed to:
4.1. bring the provisions of this circular to the notice of their members / participants
and also disseminate the same on their websites;
4.2. make necessary amendments to the relevant Bye-laws, Rules and Regulations
for the implementation of the above decision;
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5. This circular is issued in exercise of powers conferred under Section 11(1) of
Chapter IV of the Securities and Exchange Board of India Act, 1992, read with
Regulation 51 of Securities Contracts (Regulation) (Stock Exchanges and Clearing
Corporations) Regulations, 2018 to protect the interests of investors in securities
and to promote the development of, and to regulate the securities markets.
6. This circular is available on SEBI website at www.sebi.gov.in under the
category: ‘Legal → Circulars’.
Yours faithfully,
Aradhana Verma
General Manager
Tel. No: 022 26449633
aradhanad@sebi.gov.in
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Annexure
Form A – Application Form for registration as a stock broker with Securities
and Exchange Board of India
Table 1:
Sl. No. Particulars Details
1 Name of Member with Code No.
2 Trade name of Member
3 Name of the Stock Exchange/ segment of which the
applicant is the member
4 Date of admission to exchange/ segment
5 Address of Member
6 Phone Number(s) of office and residence and email
address
7 Form of Organization—Sole proprietorship,
partnership, limited liability partnership, body
corporate, financial institution
8 Net worth along with supporting document
9 PAN of the applicant
Table 2: Details of proprietor/ partners/ directors
Sl. Names Age PAN Educational Experience in Proof of
No. Qualifications derivatives experience
trading or
securities
market, as
applicable
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Other details:
1. Please furnish a copy of the memorandum and articles of association or the
partnership deed, as the case may be.
2. If the applicant intends to clear and settle its trades through a clearing
member, the applicant is required to furnish the name and details of the
clearing member along with a copy of MoU/ agreement/ contract with them
for the same.
3. Whether the application is accompanied by a requisite fee as per Chapter IX
of the Stock Brokers Regulations, 2026.
Undertaking:
1. Whether the applicant or its directors or partners, declared insolvent or
declared defaulter by any exchange? If so, furnish details.
2. Undertaking for compliance with the ‘Fit and proper person’ criteria as
specified under Schedule II of SEBI (Intermediaries) Regulations, 2008, as
amended from time to time.
Declaration:
I declare that the information given in this form is true and in the event of any
information furnished is false, misleading or suppression of facts, my certificate of
registration is liable to be cancelled by SEBI without assigning any reasons
whatsoever.
Dated..................... Signature
RECOMMENDATION OF THE STOCK EXCHANGE
This is to certify that …………………………. is a member of this Stock Exchange
and is recommended for registration with the Securities and Exchange Board of
India.
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Signature:
Name:
Designation
Form B – Application Form for Registration as Clearing member with
Securities and Exchange Board of India
Table 1:
Sl. Particulars Details
No.
1. Name of Member with Code
2. Trade name of Member
3. Name of the Clearing Corporation of which the
applicant is the member
4. Date of admission to Clearing Corporation
5. Address of Member
6. Phone Number(s) of office and residence and
email address
7. Form of Organization—Sole proprietorship,
partnership, limited liability partnership, body
corporate, financial institution, others (please
specify)
8. Net worth along with supporting document
9. PAN of the applicant
Table 2: Details of proprietor/ partners/ directors
Sl. No Names Age PAN Educational Experience in Proof of
Qualifications derivatives experience
trading or
securities market,
as applicable
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Other details:
1. Please furnish a copy of the memorandum and articles of association or the
partnership deed, as the case may be.
2. Whether the application is accompanied by a requisite fee as per Chapter IX of
the Stock Brokers Regulations, 2026.
Undertaking:
1. Whether the applicant or its directors or partners, declared insolvent or declared
defaulter by any exchange? If so, furnish details.
2. Undertaking for compliance with the ‘Fit and proper person’ criteria as specified
under Schedule II of SEBI (Intermediaries) Regulations, 2008, as amended
from time to time.
Declaration:
I declare that the information given in this form is true and in the event of any
information furnished is false, misleading or suppression of facts, my certificate of
registration is liable to be cancelled by SEBI without assigning any reasons
whatsoever.
Dated. Signature
RECOMMENDATION OF THE CLEARING CORPORATION
This is to certify that is a member of this Clearing Corporation and is recommended for
registration with the Securities and Exchange Board of India.
Signature:
Name:
Designation:
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Form C – Certificate of Registration
Securities and Exchange Board of India (Stock Brokers) Regulations, 2026
(Regulation 7)
In exercise of the powers conferred by sub-section (1) of section 12 of the Securities
and Exchange Board of India Act, 1992, read with the rules and regulations made
thereunder, the Board hereby grants a certificate of registration to.............. as a stock
broker/ clearing member for carrying on the activities of buying, selling or dealing in
securities/ clearing and settlement of trades and for carrying on such other activities
as are permitted by stock exchange(s)/ clearing corporation(s), subject to the
conditions specified therefor, from time to time, by the Board.
Registration number allotted is as under: ....................................................................
This certificate shall be valid from DD/MM/YYYY till it is suspended or cancelled in
accordance with the Regulations.
By order
For and on behalf of Securities and Exchange Board of India
Place:
Date: Authorised Signatory
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