What Changed

The default date is 6 February 2026. The records below are for that date. Later official circulars, checked through 31 October 2026, follow it. This page does not call a model.

Investment AdviserConsolidated

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Old Circular

SEBI/HO/MIRSD/MIRSD-PoD-2/P/CIR/2023/51

Superseded

Paragraph That Replaced It

Master Circular for Investment Advisers, section 10.1

Rescission section 3 · page 38

In Force

Research AnalystConsolidated

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Old Circular

SEBI/HO/MIRSD/MIRSD-PoD-2/P/CIR/2023/51

Superseded

Paragraph That Replaced It

Master Circular for Research Analysts, section 11.1

Rescission section 3 · page 33

In Force

Evidence PDF

Through 31 October 2026

25 March 2026Investment AdviserIn Force

HO/38/12/12(1)2026-MIRSD-SEC-FATF/I/7933/2026

Paragraph 4 replaces paragraph 31.2 of the 6 February 2026 master circular. A cost accountant may also conduct the annual compliance audit. This applies from 25 March 2026.

25 March 2026Research AnalystIn Force

HO/38/12/12(1)2026-MIRSD-SEC-FATF/I/7934/2026

Paragraph 4 replaces paragraph 31 of Chapter VI of the 6 February 2026 master circular. A cost accountant may also conduct the annual compliance audit. This applies from 25 March 2026.

23 October 2026Research AnalystNot Yet in Force

HO/38/11/(9)2026-MIRSD-POD/I/24272/2026

Call recordings of institutional-investor clients will not be mandatory. Paragraph 6 says this applies from 8 November 2026, so it is not in force on 31 October 2026.