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    <title>Master Circular on Surveillance of Securities Market</title>
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    <description>Master Circular consolidates SEBI surveillance circulars, prescribes Trade-for-Trade treatment for certain corporate events, mandates intermediaries&#039; internal controls to prevent circulation of unauthenticated information, standardizes PIT disclosure formats and reporting of Code of Conduct violations, endorses system-driven disclosures under Regulation 7(2), and establishes a DD-mediated process to freeze PAN at security level for Designated Persons during trading-window closures with specified timelines for notification, data sharing, freezing, exemptions and reporting.</description>
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