India's proposed Securities Markets Code Bill, 2025, aims to reduce regulatory uncertainty by consolidating three existing acts into a single statute. This initiative seeks to address issues arising from decades of incremental regulatory layering, which has led to fragmented rules, indeterminate enforcement, and discretionary remedies. The bill intends to shift from regulation by accumulation to regulation by architecture, potentially lowering the cost of capital and increasing market depth by providing a more coherent and procedural framework for securities markets.