MUMBAI, Maharashtra — India’s capital markets regulator on Tuesday proposed a uniform 30-day delay on the sharing and use of stock price data for educational and investor awareness activities, aiming to prevent misuse while ensuring learning materials remain relevant.
In a consultation paper, the Securities and Exchange Board of India said the proposal is intended to address confusion created by its existing rules governing the use of market price data for educational purposes.
The regulator said a standard 30-day lag would apply to both the sharing and usage of price data in educational and awareness initiatives. Individuals and entities engaged solely in education would continue to comply with prohibited activities outlined in the January 2025 circular, while all other provisions of earlier circulars would remain unchanged.
SEBI has invited public comments on the proposal until January 27, 2026.
Currently, two separate circulars govern the use of stock price data for educational purposes. A circular issued in May 2024 allows stock exchanges to share price data for education and awareness activities with a minimum one-day delay. Another circular issued in January 2025 permits entities engaged purely in education to use price data only if it is at least three months old.
SEBI acknowledged that although the two circulars were issued for different reasons, their parallel existence has led to uncertainty among market participants and educators.
The regulator said permitting live or near-real-time price data in educational content could blur the distinction between investor education and regulated activities such as investment advisory or equity research. Analyzing current market prices to predict future movements, SEBI said, falls under advisory functions that require regulatory oversight.
The regulator said feedback received during the consultation period will be reviewed before a final decision is taken. (Source: IANS)
