The Securities and Exchange Board of India (SEBI) Grade A, Legal Stream Examination recruits Assistant Managers for SEBI. It offers law graduates opportunities to work in securities regulation, corporate governance, and financial-market supervision.
The selection process comprises Phase I, Phase II and an interview. Candidates must prepare general aptitude, substantive law, Securities and Exchange Board of India (SEBI) Grade A, Legal Stream.
As of 15 November 2026, the Securities and Exchange Board of India (SEBI) Grade A, Legal Stream notification exists. It is dated 30 October 2025. Its examinations were in January and February 2026, followed by interviews. A newer Grade A Legal Stream advertisement could not be verified.
This guide explains the latest verified recruitment requirements, complete Legal Stream syllabus, examination pattern, eligibility, salary and available previous-year preparation resources.
SEBI Grade A Legal Stream Exam at a Glance
| Particulars | Details |
|---|---|
| Examination | SEBI Officer Grade A (Assistant Manager) |
| Recruiting Authority | Securities and Exchange Board of India |
| Stream | Legal |
| Nature of Recruitment | Regulatory authority employment |
| Latest Verified Recruitment Cycle | 2025 recruitment, examinations in 2026 |
| Legal Stream Vacancies | 20 in the 2025 notification |
| Mandatory Qualification | Bachelor’s Degree in Law |
| Age Limit | 30 years for unreserved candidates, subject to applicable relaxation |
| Selection Process | Phase I, Phase II and Interview |
| Examination Mode | Online |
| Phase I | Objective questions |
| Phase II | English descriptive paper and specialised legal paper |
| Interview | Hindi or English |
| Starting Basic Pay | ₹62,500 under the 2025 notification |
| Official Website | www.sebi.gov.in |
Official notification: SEBI Officer Grade A Recruitment 2025 PDF
All numerical recruitment details below relate to that notification unless otherwise specified.
What Is the SEBI Grade A Legal Stream Examination?
The Securities and Exchange Board of India is a statutory regulator established under the SEBI Act, 1992.
Its principal responsibilities include protecting investors, promoting securities-market development and regulating the securities market.
The Legal Stream recruits candidates with legal qualifications for positions requiring regulatory and legal competence.
Officers may work on matters involving regulatory compliance, securities legislation, enforcement proceedings, corporate governance and related legal questions.
However, recruitment through the Legal Stream does not guarantee posting exclusively within a legal department. SEBI’s notification expressly permits deployment across departments and transfer between its offices.
Candidates interested in corporate law, regulatory litigation, securities regulation and public-sector legal work should consider this examination.
SEBI Grade A Legal Notification: Latest Recruitment and Important Dates
SEBI published its latest verified recruitment advertisement on 30 October 2025.
The notification included General, Legal, Information Technology, Research, Official Language and Engineering Streams.
The following dates relate to the completed 2025 recruitment cycle.
| Event | Official Date |
|---|---|
| Notification Released | 30 October 2025 |
| Online Applications Opened | 30 October 2025 |
| Application Deadline | 28 November 2025 |
| Addendum Issued | 14 November 2025 |
| Phase I Examination | 10 January 2026 |
| Phase II Examination | 21 February 2026 |
| Phase I Results | 30 January 2026 |
| Phase II Results | 27 March 2026 |
| Selected Candidates List | 23 June 2026 |
The addendum increased General and Research Stream vacancies. It did not alter the advertised Legal Stream vacancy count.
Candidates preparing for future recruitment should regularly check the official vacancies page.
Check SEBI’s latest recruitment notifications
Check SEBI recruitment results
SEBI Grade A Legal Stream Vacancies
The 2025 recruitment notification advertised 20 Legal Stream posts.
The category-wise distribution was:
| Category | Vacancies |
|---|---|
| Unreserved | 9 |
| OBC | 3 |
| Scheduled Caste | 5 |
| Scheduled Tribe | 1 |
| Economically Weaker Sections | 2 |
| Total | 20 |
One vacancy was identified for persons with benchmark disabilities under the Deaf and Hard of Hearing category, within the applicable horizontal reservation arrangement.
These figures apply exclusively to the 2025 recruitment advertisement. Vacancies in any subsequent cycle must be verified through a fresh notification.
SEBI Grade A Legal Eligibility Criteria
Educational qualification
Candidates must possess a Bachelor’s Degree in Law from a recognized University or Institute.
The qualification may be obtained through an eligible three-year or five-year law degree program.
A postgraduate law degree was not mandatory under the 2025 notification.
Is advocacy experience compulsory?
No. Two years of post-qualification experience as an advocate was specified as a desirable qualification.
The notification included qualifying experience as an associate in an advocate’s office, solicitor’s office or law firm after enrollment under the Advocates Act, 1961.
Therefore, law graduates without professional practice experience could apply, provided they satisfied the remaining requirements.
However, relevant experience could attract additional weightage during final selection.
Can final-year law students apply?
The 2025 notification allowed candidates appearing in their final qualifying examinations to participate in Phase I and Phase II.
Such candidates had to produce proof of obtaining their required qualification when qualifying for Phase III.
This provision should not be assumed automatically for future recruitment cycles.
SEBI Grade A Legal age limit
The upper age limit for unreserved candidates was 30 years as on 30 September 2025.
Accordingly, an unreserved candidate had to be born on or after 1 October 1995.
The prescribed relaxations included:
| Category | Maximum Age Relaxation |
|---|---|
| SC/ST | 5 years |
| OBC (Non-Creamy Layer) | 3 years |
| PwBD | 10 years |
| PwBD (OBC), where applicable | 13 years |
| PwBD (SC/ST), where applicable | 15 years |
| Eligible Ex-servicemen | 5 years |
Category-based relaxation remains subject to the notification’s reservation and eligibility conditions.
Applicants must check the applicable age-calculation date whenever a new notification appears.
SEBI Grade A Legal Application Process
Applications were accepted online through the official SEBI recruitment portal.
The procedure involved registration, completing the application, uploading documents and paying the prescribed fee.
Candidates were required to provide accurate educational, category and personal details.
The application process generally involved:
- Visiting the official SEBI vacancies page.
- Opening the relevant Grade A recruitment advertisement.
- Selecting the online application link.
- Completing registration and entering personal particulars.
- Providing educational qualifications and relevant professional experience.
- Uploading the required photograph, signature and declarations.
- Paying the applicable examination fee.
- Saving the submitted application and payment receipt.
SEBI permitted applications to a maximum of two eligible streams, with separate applications and fees.
Candidates claiming experience-related marks had to declare the relevant experience during the application process.
Application fees under the 2025 notification
| Applicant Category | Fee |
|---|---|
| Unreserved, OBC and EWS | ₹1,000 plus 18% GST |
| SC, ST and PwBD | ₹100 plus 18% GST |
The fees were non-refundable.
These historical fees must not be treated as confirmed charges for future recruitment.
SEBI Grade A Legal Selection Process and Exam Pattern
SEBI follows a three-stage selection system.
Phase I screens candidates for Phase II. Phase II assesses descriptive English and specialized legal knowledge. The interview contributes to final merit.
Phase I: Online screening examination
Phase I contained two objective papers carrying 100 marks each.
| Paper | Subject | Questions | Marks | Duration |
|---|---|---|---|---|
| Paper 1 | General Awareness | 20 | 25 | Part of 60 minutes |
| Paper 1 | English Language | 20 | 25 | Part of 60 minutes |
| Paper 1 | Quantitative Aptitude | 20 | 25 | Part of 60 minutes |
| Paper 1 | Reasoning | 20 | 25 | Part of 60 minutes |
| Paper 2 | Legal Stream Subjects | 50 | 100 | 40 minutes |
Paper 1 comprised 80 questions worth 100 marks, with a combined duration of 60 minutes.
Paper 2 comprised 50 legal questions carrying 100 marks.
The entire examination lasted 100 minutes, excluding administrative formalities.
Qualifying requirements:
- Paper 1: Minimum 30%
- Paper 2: Minimum 40%
- Aggregate: Minimum 40%
The examination carried negative marking of one-fourth of the assigned marks for each incorrect answer.
Phase I marks were used for shortlisting only. They did not contribute towards final selection.
Official Phase I Information Handout
Phase II: Online examination
Phase II assessed written communication and specialized legal knowledge.
| Paper | Subject | Marks | Duration |
|---|---|---|---|
| Paper 1 | Descriptive English | 100 | 60 minutes |
| Paper 2 | 70 Legal MCQs | 70 | 60 minutes |
| Paper 2 | 3 Legal Descriptive Questions | 30 | 60 minutes |
Paper 1: Descriptive English
The official handout specified three components:
- Essay writing: 30 marks
- Precis writing: 30 marks
- Reading comprehension: 40 marks
Candidates had to type their responses using a computer keyboard.
Paper 2: Specialized Legal Examination
This paper contained 70 objective questions worth one mark each.
It also contained three descriptive legal questions carrying 10 marks each.
The legal descriptive answers could be typed in English or Hindi, subject to the prescribed interface and keyboard requirements.
Negative marking of one-fourth applied to incorrect objective answers.
The Phase II qualifying criteria were:
| Requirement | Minimum Marks |
|---|---|
| English Descriptive Paper | 30% |
| Specialised Legal Paper | 40% |
| Weighted Aggregate | 50% |
For the weighted Phase II score, English carried one-third weightage and Legal Paper 2 carried two-thirds.
Subject to qualifying conditions, candidates up to three times the vacancies were shortlisted for interview in order of merit.
Official Phase II Information Handout
Phase III: Interview and final merit
Candidates shortlisted after Phase II were called for interview.
The interview could be taken in Hindi or English.
The final selection calculation under the 2025 notification assigned:
| Component | Final Weightage |
|---|---|
| Phase II Examination | 85% |
| Interview Component | 15% |
For eligible Legal Stream candidates, up to 3.75 marks within the 15-mark interview component could be awarded for relevant post-qualification experience.
The remaining 11.25 marks represented the interview assessment.
This experience provision should not be confused with an eligibility requirement. Candidates without qualifying advocacy experience remained eligible for consideration.
Complete SEBI Grade A Legal Stream Syllabus
The official syllabus distinguishes between Phase I and Phase II.
Candidates should follow the prescribed statutory coverage rather than relying on outdated coaching notes.
Phase I Legal syllabus
| Subject Group | Indicative Weightage |
|---|---|
| Constitutional Law | 20% |
| Contract Law | 25% |
| Civil Procedure and Allied Laws | 25% |
| Administrative Law, Jurisprudence and Interpretation | 20% |
| Torts and Consumer Protection | 10% |
The percentages are indicative, not guaranteed question distributions.
1. Constitutional Law
The prescribed coverage includes the Preamble and Parts I, III, IV, IVA, V, VI, VIII, IXA, IXB and XI of the Constitution.
Candidates should focus on constitutional structures, fundamental rights, directive principles, constitutional remedies and the distribution of governmental powers.
2. Contract Law
The syllabus includes:
- Indian Contract Act, 1872
- Sale of Goods Act, 1930
- Indian Partnership Act, 1932
- Specific Relief Act, 1963
Preparation should cover contract formation, consent, enforceability, breach, remedies and statutory rights.
3. Civil Procedure and Allied Laws
The prescribed legislation includes:
- Code of Civil Procedure, 1908: Parts I, II, III, IV, V, VII and Schedule I
- Transfer of Property Act, 1882: Chapters III, IV and V
- Arbitration and Conciliation Act, 1996: Part I
- Limitation Act, 1963
Candidates should prioritize procedural provisions, jurisdiction, decrees, execution, arbitration procedures and limitation principles.
4. Administrative Law and Jurisprudence
The syllabus covers administrative law, jurisprudence, interpretation of statutes and important Latin terms and legal maxims.
Important areas for conceptual preparation include natural justice, delegated legislation, administrative discretion and principles of statutory construction.
5. Law of Torts and Consumer Protection
Candidates must study fundamental tortious liability and the Consumer Protection Act, 2019.
Questions may test liability principles, available remedies and relevant statutory mechanisms.
Phase II Legal syllabus
The prescribed Phase II syllabus concentrates on three broad groups.
| Subject Group | Indicative Weightage |
|---|---|
| Criminal Law and Evidence | 30% |
| Corporate Laws | 30% |
| Securities Laws | 40% |
1. Criminal Law and Evidence: 30%
The 2025 notification expressly prescribed:
Bharatiya Nyaya Sanhita, 2023: Chapters I, II, III, IV, VII, XII, XIV, XVII, XVIII and XIX.
Bharatiya Nagarik Suraksha Sanhita, 2023: The legislation was included without the same chapter-wise restriction.
Bharatiya Sakshya Adhiniyam, 2023: Included under the Law of Evidence.
This distinction matters because older SEBI Legal syllabi referred to the IPC, CrPC and Indian Evidence Act.
Candidates should prepare according to the latest notification, while understanding transitional questions when relevant.
2. Corporate Laws: 30%
The principal statutes include:
Companies Act, 2013: Chapters I to XVI, XVIII, XX, XXVII and XXVIII, as enumerated in the notification.
Limited Liability Partnership Act, 2008
Insolvency and Bankruptcy Code, 2016: Parts I and II.
Candidates should understand incorporation, directors, company management, statutory compliance and corporate insolvency.
For descriptive questions, understanding the relationship between statutory provisions is more useful than memorizing isolated definitions.
3. Securities Laws: 40%
Securities legislation receives the highest indicative weightage in Phase II.
The official syllabus includes:
- Securities Contracts (Regulation) Act, 1956
- Securities and Exchange Board of India Act, 1992
- Depositories Act, 1996
- SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003
- SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
- SEBI (Prohibition of Insider Trading) Regulations, 2015
Candidates should understand SEBI’s statutory powers, market regulation, prohibited trading practices and regulatory enforcement.
For the insider trading regulations, prepare unpublished price-sensitive information, connected persons and compliance mechanisms.
For the takeover regulations, examine acquisition thresholds, disclosure obligations and open-offer requirements.
For fraudulent trading regulations, focus on prohibited conduct and SEBI’s enforcement framework.
Use updated regulations from the SEBI legal and regulatory repository.
SEBI Grade A Legal Salary, Allowances and Job Profile
Under the 2025 recruitment notification, the starting basic pay for Officer Grade A was ₹62,500.
The notified pay scale progressed through prescribed increments up to ₹1,26,100 over 17 years.
SEBI also published approximate monthly gross emoluments at Mumbai, at the minimum of the scale.
| Component | Amount |
|---|---|
| Starting Basic Pay | ₹62,500 |
| Approximate Gross Monthly Emoluments Without Accommodation | ₹1,84,000 |
| Approximate Gross Monthly Emoluments With Accommodation | ₹1,43,000 |
These gross figures included the employer’s National Pension System contribution and applicable allowances.
They should not be described as take-home salary. Actual deductions, benefits and accommodation arrangements affect individual payments.
Additional benefits were available according to applicable SEBI service conditions.
The notified probation period was two years, with confirmation subject to satisfactory performance.
Officers may be transferred to different offices or assigned to departments beyond their recruitment stream.
SEBI Grade A Legal Previous-Year Question Papers (PYQs) and Answer Keys
Previous-year papers help candidates identify question styles, statutory coverage and time-management requirements.
However, candidates must distinguish official question papers from memory-based compilations and illustrative sample questions.
No publicly accessible, verifiable previous-year paper was found in the sources checked as of 15 November 2026.
The following verified resources remain useful:
| Year | Resource | Availability and Nature |
|---|---|---|
| 2026 examination | Official Phase I Handout | Official examination instructions and illustrative questions |
| 2026 examination | Official Phase II Handout | Official question structure and sample material |
| 2023 Legal Recruitment | Official Phase I Handout | Official illustrative questions, not the full examination paper |
| 2022 Legal Examination | Memory-Based Phase II Questions | Unofficial reconstruction, not an SEBI-issued question paper |
The memory-based material includes independently compiled questions and answers. Its statutory references should be verified before examination preparation.
Candidates should also consult SEBI’s official recruitment archive for historical information handouts.
Previous-year cut-off marks
Official historical selection data helps candidates understand competition, although cut-offs cannot predict future results.
The following figures represent the minimum final marks obtained by the last selected unreserved Legal Stream candidate:
| Recruitment Year | UR Final Selection Marks |
|---|---|
| 2022 | 69.08 |
| 2023 | 69.61 |
| 2024 | 71.70 |
Official documents:
2023 Legal Stream Minimum Selected Marks
These are final-selection figures, not Phase I cut-offs or guaranteed qualifying scores.
Candidates should compare equivalent examination stages rather than mixing preliminary, main and final-selection marks.
Preparation Strategy for SEBI Grade A Legal Stream
A practical strategy should reflect the official syllabus and relative examination weightages.
Step 1: Separate Phase I and Phase II preparation
Create distinct study schedules for general aptitude, preliminary legal subjects and advanced legal subjects.
Phase I requires broad coverage and speed. Phase II requires stronger statutory understanding and written analysis.
Step 2: Prioritize securities legislation
Securities Laws constitute 40% of the indicative Phase II Legal syllabus.
Begin with the SEBI Act, 1992, followed by the Securities Contracts (Regulation) Act and Depositories Act.
Then study the prescribed regulations on insider trading, fraudulent practices and substantial acquisitions.
Step 3: Read bare acts with structured notes
Prepare concise notes covering definitions, statutory powers, prohibitions, exceptions and remedies.
Maintain a separate revision chart for important sections and regulatory provisions.
Step 4: Practice legal descriptive answers
Phase II includes three descriptive legal questions carrying 30 marks.
Develop a consistent structure: identify the issue, state the governing law, apply the principle and conclude.
Practice typing answers under timed conditions rather than preparing exclusively handwritten notes.
Step 5: Prepare descriptive English
Practice essays, precis writing and comprehension using the official marking scheme.
Focus on accurate grammar, logical paragraph structure and precise expression.
Step 6: Attempt timed practice papers
Use official handouts to understand test controls and question formats.
Use memory-based material cautiously, distinguishing verified statutory propositions from reconstructed questions.
Analyze incorrect answers and revise weak subjects before increasing mock-test frequency.
Step 7: Track legal amendments
Regulatory legislation changes regularly, particularly securities-market regulations.
Check current official statutory texts and amendments during preparation.
A preparation plan built around outdated regulatory provisions can produce incorrect answers despite substantial study.
Frequently Asked Questions About SEBI Grade A Legal Stream
1. Can an LL.B. graduate apply for SEBI Grade A Legal?
Yes. A Bachelor’s Degree in Law from a recognized university or institute satisfies the mandatory educational qualification under the 2025 notification, subject to other eligibility requirements.
2. Is two years of advocacy experience mandatory?
No. Two years of relevant post-qualification advocacy experience was desirable, not compulsory. Eligible candidates could receive experience-related marks in the final assessment.
3. Does SEBI Grade A Legal have negative marking?
Yes. Phase I objective questions and Phase II Legal objective questions carried a penalty of one-fourth of the assigned marks for incorrect answers under the 2025 scheme.
4. Does Phase I contribute to final selection?
No. Phase I marks were used only for shortlisting. Final selection assigned 85% weightage to Phase II and 15% to the interview component.
5. Is the SEBI Grade A Legal examination conducted every year?
Recruitment depends on SEBI’s advertised requirements. Candidates should not assume a fixed annual notification or examination schedule.
6. Are BNS, BNSS and BSA included in the SEBI Legal syllabus?
Yes. The 2025 notification expressly prescribed the Bharatiya Nyaya Sanhita, Bharatiya Nagarik Suraksha Sanhita and Bharatiya Sakshya Adhiniyam for Phase II.
7. Can candidates answer legal descriptive questions in Hindi?
Yes. The 2025 examination instructions permitted Hindi or English for the Legal Stream descriptive questions, subject to the prescribed typing requirements.
8. What is the salary of a SEBI Grade A Legal Officer?
The 2025 starting basic pay was ₹62,500. The notification separately specified approximate gross monthly emoluments, including allowances and employer contributions.
Official Resources for SEBI Grade A Legal Aspirants
Candidates should rely on the following sources for recruitment and preparation:
- SEBI Official Website
- SEBI Grade A Recruitment 2025 Notification
- SEBI Recruitment Addendum, November 2025
- SEBI Official Vacancies Portal
- SEBI Recruitment Results
- SEBI Statutes and Regulations
Conclusion
The SEBI Grade A Legal Stream examination tests general aptitude, substantive law, securities regulation and analytical writing.
The official pattern gives substantial importance to securities legislation and descriptive legal assessment. Candidates should therefore prepare beyond conventional university examinations.
The strongest preparation combines bare-act reading, current regulations, timed practice and structured legal writing.
For future recruitment, applicants must verify the newest notification before relying on historical dates, vacancies or eligibility requirements.
