Instruments and Activities regulated by SEBI
As required by SEBI CRA Circular dated Feb 10, 2026, a list of activities or instruments falling under the purview of SEBI is being disclosed below:
| Instrument/Activity |
Regulator |
| Listed/Proposed to be listed bonds/debentures/preference share (all securities) |
SEBI |
| Listed PTCs / Securitisation Notes (originated by entities not regulated by RBI)* |
SEBI |
| Credit Ratings for Capital Protection Oriented Schemes (by Mutual Funds and AIFs) |
SEBI |
| Credit quality ratings (CQRs) for Mutual Fund Schemes and Schemes of AIFs |
SEBI |
| Expected Loss Ratings (Listed/Proposed to be listed bonds/debentures/preference share(all securities)) |
SEBI |
| Monitoring Agency |
SEBI |
| Borrowing programme ~ |
- |
| Issuer Ratings # |
- |
* Includes securitisation transactions involving assignee payout, acquirer's payout.
~ The rated instrument may involve issuance of different instruments such as debt securities (listed or otherwise), bank loans, commercial paper (listed or otherwise), etc. The regulator of the instrument may accordingly be SEBI, RBI or MCA and can only be determined upon issuance. In PRs subsequent to issuance(s), BWR shall separately capture the rated quantum details along with names of respective regulators.
# There is no instrument being rated and hence, Regulator of the Instrument is not applicable. The rating scale and definitions are being followed as stipulated in SEBI Master Circular for CRAs.
Grievance Redressal: For any grievances relating to rating of instruments regulated by SEBI, please contact sebigrievance@brickworkratings.com. Kindly note that for activities or instruments falling under the purview of FSRs other than SEBI, the grievance/dispute redressal mechanisms and investor protection mechanisms provided by SEBI shall not be available.