Official references

SEBI Circulars & Regulations

The key regulations, circulars and consultation papers for Research Analysts — plus the policies you must maintain. Always refer to official SEBI communications for the latest version.

Regulations & Master Circulars

Securities and Exchange Board of India (Research Analysts) Regulations, 2014

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Master Circular for Research Analysts

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Circulars

Recognition of BSE Limited as RAASB and IAASB

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Framework for Administration and Supervision of Research Analysts and Investment Advisers

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Usage of Brand Name / Trade Name by IAs and RAs

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Advertisement Code for Investment Advisers (IA) and Research Analysts (RA)

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Publishing of Investor Charter and Disclosure of Investor Complaints by Research Analysts

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Compliance Guidelines for Digital Accessibility (Rights of Persons with Disabilities Act, 2016)

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Adoption of UPI IDs for Payment Collection by SEBI Registered Intermediaries from Investors

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Most Important Terms and Conditions (MITC) for Research Analysts

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Consultation Papers

Consultation Paper on Mechanism for Fee Collection by SEBI Registered IAs and RAs

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Consultation Paper on Performance Validation Agency

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Proposals for Ease of Doing Business for Investment Advisers and Research Analysts

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Mandatory Policies to Maintain

Code of Conduct Policy
Research & Rationale Policy
Conflict of Interest / Personal Trading Policy
Record Retention Policy
Grievance Redressal Policy
Segregation of Research & Distribution Policy
Advertising & Public Communication Policy
Annual Compliance Audit Policy
PMLA & Anti-Money Laundering (AML) Policy
Digital Accessibility Policy (new requirement)