Archive · 24 Jul 2025
Sebi Strengthens Research Analyst Regulations with New Updates
Sebi, India's market regulator, is updating rules for financial research.
They want to make sure everyone giving research advice is qualified, so analysts need a special certificate.
They also made it clear what kind of reports count as research.
Journalists are free, but must base investment advice on real research.
Analysts can't trade stocks they cover right before or after publishing reports to avoid conflicts of interest.
These changes aim to make investing safer and more transparent for everyone.
Sebi updated regulations to strengthen compliance and transparency in research services.
Research analysts must obtain NISM certification within one year.
Sebi issued FAQs to help analysts interpret and comply with regulations.
Journalists are exempt from registration, but recommendations must be backed by research.
Trading restrictions for analysts include a 30-day pre-publication and 5-day post-publication ban.
- Who
- Sebi, research analysts, and investors.
- What
- Sebi is updating regulations and issuing clarifications for research analysts.
- When
- The changes were announced in a circular and FAQs.
- Where
- India's capital markets.
- Why
- To strengthen compliance, transparency, and investor protection.
- Regulating Body
- Securities and Exchange Board of India (Sebi)
- Certification Required
- NISM certification within one year
- Trading Ban
- 30 days before and 5 days after report publication
- Applicable to
- Research Analysts and Research Entities
- Exemptions
- General market trends, Journalists