The Securities and Exchange Board of India (SEBI) has mandated that all regulated entities terminate contracts with unregistered investment advisors within three months. This directive aims to enhance regulatory oversight and ensure that investors are not misled by unauthorized advisors. Additionally, SEBI has issued a notice to the Adani Group regarding the alleged wrongful categorization of certain investors as public shareholders. The regulator is also tightening insider trading regulations for mutual funds, reflecting a broader effort to strengthen compliance in the financial sector. In a related development, SEBI has banned merchant banker First Overseas Capital from managing public issues until further notice, further indicating its commitment to enforcing compliance among financial institutions.