Gandhi’s remarks follow the findings of a recent SEBI study, which painted a grim picture of the state of retail participation in Futures & Options (F&O) trading.

The SEBI report showed that a large percentage of individual traders consistently incurred losses, with 91per cent losing an average of Rs 1.2 lakh each in FY24

“Uncontrolled F&O trading has grown 45x in 5 years. 90% of small investors have lost Rs 1.8 lakh Cr in 3 years. SEBI must reveal the names of the so called “Big Players” making a killing at their expense,” Gandhi said in a post on X, formerly Twitter.

SEBI said that the information that is already in the depositories' CAF module accounts for up to 45% of the number of fields present, and the rest is unique information.

On Monday, September 24, SEBI released a consultation paper on 'Simplified registration for Foreign Portfolio Investors (FPIs)' and invited feedback from stakeholders and the public by October 15. SEBI noted that some relevant information for certain categories of FPI applicants is already captured in Depositories' Common Application Form (CAF) module,

In case of onboarding applicants belonging to certain categories, Sebi has proposed an abridged version of CAF having only those fields that are unique to such applicants should be used.