The regulations consolidate rules on registration, eligibility, net worth, deposits, fees, and operational permissions across market segments, while clarifying when separate registrations are not required. It impose comprehensive general and enhanced obligations, including client fund and securities protection, robust risk management, cybersecurity resilience, grievance redressal, record-keeping for eight years, and strict codes of conduct. It introduces institutional mechanisms to prevent, detect, and report fraud or market abuse, including surveillance systems, mule-account detection, whistle-blower protections, and periodic reporting. It enables regulatory sandbox relaxations to foster innovation and also specifies underwriting permissions.