The Securities and Exchange Board of India (SEBI) has issued the press release titled "Commencement of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026" — PR No. 70/2026, dated 6 November 2026 — confirming that the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026, notified on 8 October 2026, come into force on 7 November 2026. From that date, the new settlement framework replaces the SEBI (Settlement Proceedings) Regulations, 2018, and anyone facing a specified SEBI administrative or civil proceeding can apply to settle it under the new rules — using the FAQs, the online settlement-amount calculator, the online application form and the help desk that SEBI has now put live on its website.
Quick Answer: The SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026 come into force on 7 November 2026, SEBI confirmed in PR No. 70/2026 dated 6 November 2026. SEBI has published FAQs, an online settlement-amount calculator, an online application form and a help desk; the application fee is ₹25,000 for individuals and ₹35,000 for others, the minimum settlement amount is ₹3 lakh for first-time applicants and ₹7 lakh for others, and proceedings pending at commencement must be applied for within 90 days.
In plain business-owner language, this is the day the new deal-making window with SEBI actually opens. Until 6 November 2026, the new settlement rules existed on paper but could not be used. From 7 November 2026, a company, director or intermediary facing SEBI proceedings can work out what a settlement would cost using SEBI's own calculator, and file the application online — instead of negotiating in the dark under the old 2018 framework.
What SEBI announced on 6 November 2026
PR No. 70/2026 is short — three numbered paragraphs — but it does two important things. First, it fixes the commencement date beyond doubt: the regulations "shall come into force on 07.11.2026". Second, it points applicants to five facilities SEBI has placed on its website "for ease of understanding and filing of settlement applications":
The press release itself states no fee, no minimum amount and no deadline — those figures come from the regulations themselves, summarised below. Eligible persons "may apply for settlement in accordance with Settlement Regulations, 2026", the release says. The full text of the regulations is on SEBI's website at the Settlement Regulations, 2026 page.
What the new settlement regime is — in brief
The 2026 regulations, notified as SEBI/LAD-DOP/2026/318, establish the framework for settling specified administrative and civil proceedings under the securities laws. A "specified proceeding" covers proceedings SEBI may initiate or has initiated and that are pending before SEBI, or appeals pending before the Securities Appellate Tribunal or the Supreme Court, concerning violations under sections 11, 11B, 11D, 12(3) or 15-I of the SEBI Act, 1992; section 12A or 23-I of the Securities Contracts (Regulation) Act, 1956; or section 19 or 19H of the Depositories Act, 1996. Our full guide to the regulations — fees, formula, deadlines, fast-track routes and confidentiality — is at SEBI Settlement Regulations 2026: Fees, Formula & Deadlines.
The headline numbers every applicant needs first are the fee and the floor. The application fee is non-refundable: ₹25,000 for a natural person and ₹35,000 for other applicants, payable through the specified payment gateway. The minimum settlement amount is ₹3 lakh for a first-time applicant and ₹7 lakh for other applicants — a first-time applicant being a person against whom no adverse order has been passed by the adjudicating officer or SEBI and who has not previously obtained a settlement order from SEBI, as on the date of application. The fee is separate from the settlement amount.
The settlement amount itself is no longer negotiated case by case. Regulation 10 prescribes a formula:
Settlement Amount = Base Amount × (S + R + G + A − M)
If the net sum inside the brackets is below 1, it is taken as 1.
The base amount is the minimum statutory penalty for the violation, multiplied by an applicant-type multiplier — 2 for an independent director, 3 for a non-executive director, 3.5 for an executive director, promoter in control or key managerial person, 2.5 for another natural person, 4 for a body corporate, intermediary or pooled investment vehicle, and 5.5 for a market infrastructure institution. The factors then adjust that base amount: the stage of proceedings (0.20 for a voluntary, suo motu application, rising to 1.50 before the Supreme Court), regulatory history (0.10 per administrative warning, 0.20 per earlier settlement order, 0.30 per adverse order), gravity, aggravating factors (0.20 each, maximum five) and mitigating factors (0.20 each, maximum five). That is exactly what the new online calculator computes — which is why SEBI's decision to publish the calculator alongside commencement matters: an applicant can now see the likely amount before paying the non-refundable fee.
Old vs new: what changes on 7 November 2026
The deadlines that matter from 7 November 2026
Deadlines under the 2026 regulations run from different triggering events and are not interchangeable. The ones applicants most often get wrong are these:
The 90-day transitional window — the date to diary now: Regulation 4(3) deals with specified proceedings pending when the new regulations commence, where no settlement application was previously filed, or an application was rejected, returned or withdrawn under the 2018 regulations. Those applications must be filed within 90 days from commencement — by 5 February 2027 — and Regulation 4(4) prescribes a settlement amount 20% higher than the amount calculated under Regulation 10 for those applications. The ordinary 90-day limit in Regulation 4(1) does not apply where the specified proceeding is pending before the Securities Appellate Tribunal or the Supreme Court.
Who is affected
The commencement matters most to four groups. Listed companies and their directors, promoters and key managerial personnel facing SEBI proceedings — including proceedings that began under the 2018 framework — because the transitional window and the formula now govern what they pay and by when. SEBI-registered intermediaries (brokers, merchant bankers, mutual funds, portfolio managers, research analysts and others) who are the most frequent settlement applicants. Applicants whose settlement applications were rejected, returned or withdrawn under the 2018 regulations, who get a fresh 90-day window from 7 November 2026 but at a 20% higher settlement amount. And company secretaries, compliance officers and securities lawyers advising any of the above, who must now use the calculator, the online form and the FAQs rather than the old paper route.
It does not create a filing obligation for every company. Settlement is voluntary and case-specific: it matters where an entity or individual is considering settling a specified SEBI proceeding. And not every proceeding can be settled — Regulation 6 restricts settlement where, among other things, an investigation, inspection or audit on the same cause of action is pending (except for confidentiality applications), where the applicant is a wilful defaulter, fraudulent borrower or fugitive economic offender, or where the proceedings involve market-wide impact, losses to a large number of investors or an effect on market integrity (though Regulation 18(2) allows consideration where those concerns can be adequately remedied through monetary and remedial or regulatory terms, including a higher settlement amount).
What to do next
- Check whether the proceeding is a "specified proceeding" under Regulation 2(1)(l) — the statutory basis (SEBI Act, SCRA or Depositories Act provisions) and whether it is pending before SEBI, the Tribunal or the Supreme Court. If it is not, the framework does not apply.
- Work out the deadline from the correct trigger. Pending before SEBI after a show-cause notice: 90 days from service of the notice or supplementary notice, whichever is later. Pending at commencement with no earlier application, or a rejected/returned/withdrawn one: 90 days from 7 November 2026, i.e. by 5 February 2027. Pre-show-cause settlement notice: 60 days from receipt. Fast-track notice: 30 days.
- Run the numbers on SEBI's calculator first (set-cal-v2/set-cal.html), and watch the explainer video on the same page. Check the base amount (minimum statutory penalty × applicant multiplier), the stage factor, regulatory history, gravity, aggravating and mitigating factors — and remember the ₹3 lakh / ₹7 lakh floor and the 20% uplift for transitional applications.
- Read SEBI's FAQs (FAQs PDF) and the help desk framework before drafting — the FAQs are SEBI's own explanation of the new process.
- Check eligibility under Regulation 6 before paying the fee. The ₹25,000 / ₹35,000 application fee is non-refundable, so a pending investigation, wilful-defaulter status or market-integrity bar should be identified before the money is paid.
- Consider whether a fast-track route or confidentiality applies. Specified disclosure defaults may qualify for violation-based fast-track settlement; amounts up to ₹10 lakh with no disgorgement or remedial terms may take the monetary-threshold route; and substantial assistance to SEBI may support a confidentiality application with reductions of up to 90%, 50% or 25% depending on priority — but neither route guarantees acceptance.
- File through the online application form (siportal.sebi.gov.in) with the prescribed form, undertakings, waivers, settlement computation and fee. One application must cover all specified proceedings relating to the same cause of action. If SEBI returns the application as incomplete, the revised application is due within 15 days.
- Plan for what follows acceptance. The Panel of Whole Time Members decides on the Internal Committee's and, where required, the High Powered Advisory Committee's recommendations; a demand notice follows within 10 days of acceptance, and payment is due within 30 days of the demand notice. Settlement terms may also include disgorgement, interest at 9% (12% after a final order), disclosures and remedial or regulatory conditions.
Frequently Asked Questions
When do the SEBI Settlement Regulations 2026 come into force?
The SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026 come into force on 7 November 2026. SEBI confirmed the date in PR No. 70/2026 dated 6 November 2026; the regulations were notified on 8 October 2026.
What is the SEBI settlement amount calculator and where is it?
It is SEBI's online facility for calculating the settlement amount under the Regulation 10 formula (base amount × stage, regulatory-action, gravity, aggravating and mitigating factors). It is at sebi.gov.in/set-cal-v2/set-cal.html, and SEBI has published an explainer video on using it on the same page.
What is the application fee for SEBI settlement under the 2026 regulations?
The non-refundable application fee is ₹25,000 for a natural person and ₹35,000 for other applicants, payable through the specified payment gateway. The fee is separate from the settlement amount.
What is the minimum settlement amount under the SEBI Settlement Regulations 2026?
The minimum settlement amount is ₹3 lakh for a first-time applicant and ₹7 lakh for other applicants, subject to the detailed calculation and other requirements of the regulations. A first-time applicant is a person against whom no adverse order has been passed and who has not previously obtained a settlement order from SEBI, as on the date of application.
What is the last date to apply for settlement of proceedings pending on 7 November 2026?
Under Regulation 4(3), where a specified proceeding was pending at commencement and no settlement application was filed earlier, or an earlier application was rejected, returned or withdrawn under the 2018 regulations, the application must be filed within 90 days from commencement — by 5 February 2027 — with a settlement amount 20% higher than the amount calculated under Regulation 10.
How do I file a SEBI settlement application online?
Use SEBI's online settlement application form at siportal.sebi.gov.in/intermediary/settlementApplication.html, with the prescribed form, undertakings, waivers, settlement computation and application fee. One application must cover all specified proceedings relating to the same cause of action.
Do the 2026 regulations repeal the 2018 settlement regulations?
Yes. Regulation 45 repeals the SEBI (Settlement Proceedings) Regulations, 2018, from commencement of the new regulations on 7 November 2026. Savings and transitional provisions preserve specified existing orders, notices, committees and treatments of pending applications.
Can a settlement application be made while a matter is before SAT or the Supreme Court?
Yes — the regulations define specified proceedings to include qualifying appeals pending before the Securities Appellate Tribunal or the Supreme Court. The ordinary 90-day limitation in Regulation 4(1) does not apply to applications made while the specified proceeding is pending before those forums, subject to the other applicable requirements.
Sources
- Primary source: SEBI Press Release PR No. 70/2026, "Commencement of SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026", dated 6 November 2026 — sebi.gov.in (PDF: PR 70/2026 PDF)
- SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026 — sebi.gov.in
- FAQs on Settlement Regulations, 2026 — sebi.gov.in
- Online settlement-amount calculator and explainer video — sebi.gov.in
- Online settlement application form — siportal.sebi.gov.in
- CorpLawUpdates guide: SEBI Settlement Regulations 2026: Fees, Formula & Deadlines (9 October 2026)
Verified against the official SEBI press release PR No. 70/2026 (6 November 2026) and the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2026. Figures, dates and deadlines in this article are taken from those official documents; where a figure comes from the regulations rather than the press release, the regulation number is stated.
