Description
RTI appeal regarding SEBI's refusal to provide data on retail profitability in weekly options, STT revenue, and regulatory committee conflict disclosures.
Summary
RTI Appeal No. 6488 of 2025 filed by Dr Dwivedi Divyansh against SEBI’s refusal to provide information on weekly options trading data, retail investor profitability studies, STT revenue from close-strike options, and conflict of interest declarations of derivative market committee members.
Key Points
- Appeal filed on July 18, 2025 regarding RTI application dated June 18, 2025
- Appellant sought data on retail profitability in weekly options with strike spacing ≤0.5% from 2018-2025
- SEBI responded that no studies have been conducted on retail investor profitability in weekly options
- Request for STT revenue data from option premium turnover and conflict-of-interest declarations denied as information not available
- Appeal challenges SEBI’s regulatory approach to close-strike weekly options causing over 90% retail losses
- References global regulators (ESMA, FCA, ASIC) banning close-strike expiries as exploitative
Regulatory Changes
No regulatory changes announced. This is an administrative appeal regarding information disclosure.
Compliance Requirements
No new compliance requirements. Standard RTI Act provisions apply for information disclosure by public authorities.
Important Dates
- June 18, 2025: RTI application filed
- July 17, 2025: SEBI’s response to RTI application
- July 18, 2025: Appeal filed (Reg. No. SEBIH/A/E/25/00182)
- August 12, 2025: Appeal order published
Impact Assessment
Limited direct market impact as this is an administrative matter. However, highlights ongoing concerns about transparency in SEBI’s approach to weekly options regulation and retail investor protection in derivative markets with close-strike spacing.
Impact Justification
Administrative RTI appeal with limited direct market impact but highlights regulatory transparency issues