SEBI Officer Grade A · Legal stream
For SEBI Legal, securities law is the differentiator — and it’s 40% of the decisive paper.
A judiciary base gets you most of the way; what wins SEBI Grade A (Legal) is the securities-law block. We lay out the official Phase I → Phase II → Interview pattern, the full legal syllabus, eligibility, and where the marks actually sit.
- Conducting bodySecurities and Exchange Board of India (SEBI)
- PostOfficer Grade A (Assistant Manager) — Legal
- Legal posts (2025)20
- EligibilityBachelor’s Degree in Law (LL.B.)
- Age limitNot over 30 (as on 30.09.2025) · relaxations apply
- StagesPhase I → Phase II → Interview
Three stages — and Phase I only opens the door.
Phase I is a screening filter whose marks don’t carry. Your selection is built in Phase II (85%) and the interview (15%).
Stage 1 · Screening
Phase I (Online)
Objective · two papers · ¼ negative
A screening test of two MCQ papers of 100 marks each. Marks are used ONLY to shortlist for Phase II — they are not counted in the final merit.
- Paper 1 (common)
- 100 · 60 min · 30%
- Paper 2 (Legal)
- 100 · 40 min · 40%
- Aggregate cut-off
- 40%
- Negative marking
- ¼ mark
Stage 2 · Selection
Phase II (Online)
Two papers · MCQ + descriptive
The decisive stage. Paper 1 is an English descriptive (drafting) test; Paper 2 (Legal) mixes 70 MCQs with 3 descriptive questions on specialised law.
- Paper 1 — English (descriptive)
- 100 · 1/3 weight
- Paper 2 — Legal
- 100 · 2/3 weight
- Paper 2 split
- 70 MCQ + 3 descriptive
- Cut-off
- 30% / 40%
Stage 3 · Final
Interview
Personality + experience
Final selection weights Phase II at 85% and the interview at 15%. Within the interview, relevant post-qualification experience carries 25% (up to 3.75 marks).
- Phase II weight
- 85%
- Interview weight
- 15%
- Experience credit
- up to 3.75 marks
Can you apply? Check this first.
Qualification
A Bachelor’s Degree in Law (LL.B.) from a recognised University/Institute — mandatory.
Desirable experience
Two years’ post-qualification experience as an Advocate (incl. as an associate in an advocate’s/solicitor’s office or law firm) after enrolment under the Advocates Act, 1961. Earns interview credit.
Age
Not over 30 years as on 30.09.2025 (born on/after 01.10.1995). +5 for SC/ST, +3 for OBC, plus other statutory relaxations.
Nationality
Indian citizen (or as per SEBI’s nationality conditions).
Negative marking
¼ of the marks assigned to a question is deducted for a wrong answer in the MCQ papers.
Language
Papers (except the English test) are set bilingually in Hindi and English.
The legal syllabus, phase by phase.
Phase I tests a broad legal base; Phase II concentrates on criminal/evidence, corporate and — decisively — securities laws.
Phase I — Legal Paper 2
General Awareness (including financial-sector questions of easy-to-moderate difficulty), English Language, Quantitative Aptitude and Test of Reasoning. 100 marks, 60 minutes, 30% cut-off.
Constitution of India (20%); Contract Law — ICA 1872, Sale of Goods Act 1930, Partnership Act 1932, Specific Relief Act 1963 (25%); Code of Civil Procedure 1908 (25%); Transfer of Property Act 1882; Arbitration & Conciliation Act 1996 (Part I); Limitation Act 1963; Administrative Law (20%); Jurisprudence & Interpretation of Statutes; important Latin terms & maxims; Law of Torts & Consumer Protection Act 2019 (10%). 100 marks, 40 minutes, 40% cut-off.
Phase II — papers & weight
- Criminal Law & Evidence30%
- Corporate Laws (Companies, LLP, IBC)30%
- Securities Laws (SCRA, SEBI Act, Depositories, PFUTP, SAST, PIT)40%
- Paper 1 — English descriptive (drafting)100
The Phase II legal paper, by official weightage.
These are the indicative weightages SEBI publishes for the Phase II Legal (specialised) paper — the stage that decides selection.
Securities Laws
40%The decisive, SEBI-specific block
Securities Contracts (Regulation) Act 1956; SEBI Act 1992; Depositories Act 1996; PFUTP Regulations 2003; SAST (Takeover) Regulations 2011; PIT (Insider Trading) Regulations 2015. This is what sets SEBI Legal apart from a judiciary exam — master it cold.
Criminal Law & Evidence
30%On the new codes
Bharatiya Nyaya Sanhita 2023 (key chapters), Bharatiya Nagarik Suraksha Sanhita 2023, and the Bharatiya Sakshya Adhiniyam 2023. SEBI’s syllabus is already framed on the 2023 codes.
Corporate Laws
30%Heavy & technical
Companies Act 2013 (most chapters), Limited Liability Partnership Act 2008, and the Insolvency & Bankruptcy Code 2016. Overlaps directly with SEBI’s day-to-day work.
Where a judiciary base needs a top-up.
Securities law is the differentiator
A judiciary aspirant has 90% of the base subjects already — Constitution, Contract, CPC, Criminal, Evidence, Corporate. What you must add is the securities-law block: SEBI Act, SCRA, Depositories Act, and the PFUTP, Takeover (SAST) and Insider-Trading (PIT) Regulations. It carries 40% of the Phase II legal paper and decides selection.
Phase II is part descriptive — drafting counts
Unlike most objective exams, SEBI Phase II has an English descriptive (drafting) paper plus 3 descriptive legal questions. Practise writing crisp legal answers and notes, not just MCQs — and remember Phase I marks don’t carry, so peak for Phase II.
Everything to prepare SEBI Legal — free.
Notes on the SEBI Act, SCRA, Depositories Act, Companies Act and more — the SEBI-specific core.
Open Judgments Landmark judgment digestCase briefs across Constitution, Contract, Company, Arbitration and Criminal law — the shared base subjects.
Open Practice Subject-wise testsTimed MCQ sets on the substantive & procedural subjects SEBI Legal shares with judiciary exams.
OpenSEBI Grade A Legal — quick answers.
Who conducts the SEBI Grade A Legal Officer exam?
The Securities and Exchange Board of India (SEBI) recruits Officer Grade A (Assistant Manager) in the Legal stream through its own recruitment process.
What is the eligibility for SEBI Grade A Legal?
A Bachelor’s Degree in Law (LL.B.) from a recognised University/Institute is mandatory. Two years’ post-qualification experience as an advocate is desirable and earns interview credit. The age limit is 30 years (as on 30.09.2025), with statutory relaxations.
What is the SEBI Grade A Legal exam pattern?
Three stages: Phase I (online screening, two MCQ papers of 100 marks each), Phase II (online, two papers of 100 marks — an English descriptive paper and a Legal paper of 70 MCQs + 3 descriptive questions), and an Interview.
Do Phase I marks count in the final selection?
No. Phase I is only a screening test to shortlist candidates for Phase II; its marks are not counted in the final merit. Final selection weights Phase II at 85% and the interview at 15%.
What is the SEBI Grade A Legal syllabus?
Phase I (Legal): Constitution, Contract & allied laws, CPC, TPA, Arbitration, Limitation, Administrative Law, Jurisprudence & Interpretation, maxims, and Torts/Consumer Protection. Phase II (Legal): Criminal Law (BNS/BNSS) & Evidence (BSA), Corporate Laws (Companies Act, LLP, IBC), and Securities Laws (SCRA, SEBI Act, Depositories Act, PFUTP, SAST, PIT).
Is there negative marking in the SEBI Grade A exam?
Yes — one-fourth of the marks assigned to a question is deducted for each wrong answer in the objective papers.
Which is the most important subject for SEBI Legal?
Securities Laws — it carries the highest weightage (about 40%) in the Phase II legal paper and is the area unique to SEBI, covering the SEBI Act, SCRA, Depositories Act and the PFUTP, SAST and PIT Regulations.
Build the base subjects, then add securities law.
Free notes on securities & corporate law, a landmark-judgment digest, and timed subject tests on the substantive & procedural subjects SEBI shares with judiciary exams.
