Circular on Forms for registration of stock brokers and clearing members

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 Under Schedule I of Securities and Exchange Board of India (Stock Brokers) Regulations, 1992 (repealed), the application forms for registration of stock broker and clearing member along with certificate of registration were specified. 2.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; Page 1 of 75. 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 Page 2 of 7Annexure 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 Page 3 of 7Other 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. Page 4 of 7Signature: 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 Page 5 of 7Other 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: Page 6 of 7Form 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 Page 7 of 7