SEBI proposes 30-day lag for stock price data in investor education

The Securities and Exchange Board of India (SEBI) has proposed a uniform 30-day delay for sharing stock price data used solely for investor education and awareness, according to a consultation paper issued on 6 January 2026.

The move aims to strike a balance between preventing misuse of price data and maintaining the relevance of educational content. Earlier, a May 2024 circular restricted real-time price data sharing by exchanges, allowing only a one-day lag for educational purposes, to curb misuse in online gaming platforms and similar apps. A subsequent January 2025 circular imposed a three-month lag for entities engaged solely in education, distinguishing pure educational material from investment advice or research analysis.

Stakeholders had raised concerns that the one-day lag was too short and vulnerable to misuse, while the three-month lag was excessively long, reducing the practical value of educational content. SEBI’s internal review concluded that a 30-day lag would adequately protect against misuse while keeping content timely and meaningful.

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The proposal specifies that persons engaged exclusively in education must continue to comply with prohibited activities outlined in the January 2025 circular. All other provisions of earlier circulars remain unchanged.

SEBI has invited public comments on whether the 30-day lag is appropriate, additional safeguards that may be needed, and other suggestions. Responses must be submitted by 27 January 2026 via the designated online portal or specified email addresses.