SEBI is pushing structural reforms in derivatives to protect small investors and tackle rising financial fraud.

• 91% of retail traders lost money in FY25 F&O trades; losses crossed ₹1 trillion, SEBI's July 7 report revealed.
• Chairman Pandey stressed the need to curb unfair practices, citing volume drops and misuse of investor funds.
• SEBI is conducting forensic audits to expose frauds like fund diversion and circular transactions by listed firms.