The Securities and Exchange Board of India (SEBI) has proposed introducing a uniform 30-day delay in the stock price data used exclusively for investor education and awareness initiatives. The suggestion was outlined in a recent consultation paper released on January 6, 2026.

Objective: Ensuring Protection Without Losing Relevance

SEBI’s proposal seeks to curb potential misuse of market data while continuing to support meaningful investor education. The regulator emphasized that the aim is to maintain an appropriate balance between safeguarding market integrity and keeping educational material practical and useful for learners.

Evolution of Rules on Data Sharing

In May 2024, SEBI first moved to restrict the sharing of real-time price information by stock exchanges, permitting only a one-day delay for educational purposes. The change was driven largely by concerns about the use of market data by online gaming platforms and similar applications.

Subsequently, in January 2025, SEBI mandated a three-month delay for entities engaged purely in investor education to clearly differentiate such content from investment research or advisory services.

However, feedback from industry participants indicated that a one-day lag still left room for misuse, while a three-month delay made examples and illustrations outdated and less effective for teaching purposes.

SEBI’s Current Proposal

After evaluating the concerns and reviewing the impact of previous rules, SEBI has suggested a 30-day delay as a middle path. According to the regulator, this timeframe is expected to significantly reduce the risk of misuse while ensuring that examples used in educational programs remain reasonably current.

Entities engaged exclusively in investor education will still be required to comply with restrictions outlined in the January 2025 circular regarding prohibited activities. Other provisions from earlier circulars will continue to remain in force.

SEBI has sought public feedback on the proposal, including views on the appropriateness of the 30-day lag and whether further safeguards are necessary. Comments may be submitted until January 27, 2026, through the prescribed channels.

Summary

SEBI has proposed a uniform 30-day delay for sharing stock price data used only for investor education. Key points include:

• the goal of preventing misuse of market data while keeping educational content relevant,
• earlier rules that introduced a one-day lag in 2024 and a three-month lag in 2025,
• concerns raised by market participants regarding both earlier timelines, and
• SEBI’s view that a 30-day delay offers a balanced and practical solution, with public comments invited until January 27, 2026.

The proposal aims to refine the regulatory framework around educational use of market data while continuing to prioritize investor protection.

Disclaimer:

This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.

Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.