Notified on 7 January 2026, the SEBI (Stock Brokers) Regulations, 2026 replace the 1992 Regulations that had governed Indian broking for over three decades. The new framework consolidates registration, eligibility, conduct, governance, compliance, inspection, enforcement and grievance redressal into a single rulebook — with stronger client-asset protection, mandatory whistleblower architecture, and explicit permission for brokers to undertake other regulated financial activities. A digest of what changed, why it matters, and what practitioners should be tracking.