The Securities and Exchange Board of India (SEBI) has introduced a significant overhaul of its regulatory framework for stock brokers, replacing the three-decade-old SEBI (Stock Brokers) Regulations, 1992, with the new SEBI (Stock Brokers) Regulations, 2026. This landmark move permits registered stock brokers to engage in activities that fall under the regulatory ambit of other financial sector authorities, such as the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), the Insolvency and Bankruptcy Board of India (IBBI), the Pension Fund Regulatory and Development Authority (PFRDA), the International Financial Services Centres Authority (IFSCA), and the Ministry of Corporate Affairs (MCA). The primary objective of these revised regulations is to foster ease of doing business and allow market intermediaries to expand their service offerings, thereby providing a more comprehensive suite of financial services to clients through a single platform. A crucial clarification from SEBI is that while brokers can diversify, any activity undertaken under another financial sector regulator will continue to be governed by that respective authority and not by SEBI, ensuring regulatory clarity and avoiding overlap. Beyond allowing diversification, the new framework also simplifies regulatory language, removes outdated provisions, and introduces clearer definitions for various terms like 'clearing member' and 'proprietary trading'. It also strengthens investor protection by extending the period for maintaining books of accounts and other records from five years to eight years, enhancing audit capabilities and post-event scrutiny. Furthermore, the regulations impose new conditions for registration, including a minimum of two years of experience in securities trading and a requirement for at least one designated director to reside in India for 182 days during a financial year. Brokers are also explicitly barred from offering schemes that promise guaranteed or fixed returns and must establish systems to detect and report suspicious activities. This comprehensive revamp is expected to streamline operations for brokers while bolstering overall market integrity and investor safeguards.