Summary: SEBI has directed all stock brokers to prominently display investor awareness messages shared by SEBI on their websites and trading apps as part of Project Jagrook and in connection with World Investor Week 2026. The circular builds upon SEBI’s May 19, 2023 circular requiring stock brokers to display risk disclosures relating to trading by individual traders in the equity Futures & Options segment.
From October 5 to October 31, 2026, stock brokers must display the investor awareness messages and existing risk disclosures on their websites. From November 1, 2026, the specified investor awareness messages must be displayed on the landing page of stock brokers’ websites. For trading apps, display of the investor awareness messages during October 5–31, 2026 is voluntary. Where a broker chooses to display the messages on any day during this period, display of the risk disclosures becomes optional for that day. From November 1, 2026, stock brokers must mandatorily display the investor awareness messages and risk disclosures on alternate days on the landing page of their trading apps, where applicable.
The circular also directs stock exchanges and depositories to notify their members and participants, disseminate the circular on their websites, display SEBI’s investor awareness messages as provided, and make necessary amendments to their bye-laws, rules and regulations. The investor awareness messages may be modified by SEBI from time to time. All other provisions of the May 19, 2023 circular remain unchanged.
Securities and Exchange Board of India
Circular No. HO/38/24/(15)2026-MIRSD-PODMMC/I/22872/2026 | Dated: October 01, 2026
All Recognized Stock Exchanges,
Depositories,
Stock Brokers through Recognized Stock Exchanges
Dear Madam/ Sir,
Subject: Display of “investor awareness message(s)” by stock brokers on their trading apps and websites, under Project Jagrook
1. SEBI vide circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/73 dated May 19, 2023, inter-alia, mandated all stock brokers to display ‘Risk disclosures’ (given at Annexure-I of the said circular) to all their clients in the manner as specified therein (herein after referred to as ‘Risk disclosures’).
2. In continuation to the aforementioned circular, as part of Project Jagrook- SEBI’s nationwide investor awareness initiative and the upcoming World Investor Week 2026, SEBI has decided to introduce display of investor-centric messages by stock brokers, for the benefit, safety, and education of investors.
3. Accordingly, all stock brokers shall be required to prominently display the “investor awareness message(s)”, as shared by SEBI, on their websites and trading apps, in the manner prescribed.
4. The display of such messages shall be undertaken by stock brokers, as given below:
4.1 Websites of Stock Brokers:
a. During October 5, 2026 to October 31, 2026, all stock brokers shall display the “investor awareness message(s)” shared by SEBI and the ‘Risk disclosures’ on their websites.
b. From November 1, 2026 onwards, the stock brokers shall display the specified “investor awareness message(s)” on the landing page of their websites.
4.2 Trading apps of Stock Brokers:
a. During October 5, 2026 to October 31, 2026, all stock brokers may display the “investor awareness message(s)” shared by SEBI, on their trading apps, if any, on a voluntary basis. During the said time period, if on any day, the stock broker chooses to display the specified “investor awareness message(s)” on its trading app, display of the ‘Risk disclosures’ shall be optional.
b. From November 1, 2026 onwards, the stock brokers shall mandatorily display the specified “investor awareness message(s)” and ‘Risk disclosures’, on alternate days, on their trading apps, if any. The display of such “investor awareness message(s)” should be on the landing page of such trading app of the stock broker.
4.3 The “investor awareness message(s)” shared by SEBI may be modified from time to time.
5. Stock Exchanges and Depositories are directed to:
5.1 . bring the provisions of this circular to the notice of their members/ participants, as applicable, and disseminate the same on their websites.
5.2 . display the “investor awareness message(s)” shared by SEBI, as it is, on their websites;
5.3 . make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of this circular;
6. All other provisions of SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/73 dated May 19, 2023, shall remain unchanged.
7. This Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market.
8. This circular is issued with the approval of the competent authority.
9. This circular is available on the SEBI website at sebi.gov.in under the category, “Legal” > “Circulars”.
Yours faithfully,
Sonia Kaushik Shah
Deputy General Manager
Market Intermediaries Regulation and Supervision Department
Tel No. :022 2644 9755
Email: [email protected]
