Business · Companies · 9 hrs ago
SEBI eases call-recording rules for research analysts
India’s market regulator, SEBI, has eased call-recording rules for research analysts who deal with institutional investors.
Analysts and research firms will no longer be required to keep recordings of those interactions.
They must still keep verifiable records of interactions with all clients, including people who have not yet signed up, using methods such as emails, text messages or signed documents.
Records must generally be kept for five years, and longer if a dispute is unresolved or SEBI orders it.
Call recordings are not needed for interactions through channels such as email when a digital record is available.
The change is intended to reduce compliance work for research analysts while keeping client interactions documented.
The new rules take effect on November 8.
SEBI has removed the mandatory requirement for research analysts to keep call recordings of interactions with institutional investors.
Research analysts must still keep records of interactions with all clients, including prospective clients, using legally verifiable methods.
Records must be kept for five years, and longer if a dispute remains unresolved or SEBI directs their preservation.
Call recordings are not required for interactions through channels such as email that leave a digital footprint.
The new provisions take effect on November 8.
- Who
- The Securities and Exchange Board of India (SEBI) and research analysts.
- What
- SEBI eased the requirement to keep call recordings of interactions with institutional investors. Analysts must still maintain verifiable records of interactions with all clients.
- When
- The provisions take effect on November 8. The articles were published on October 23, 2026.
- Where
- India.
- Why
- To reduce compliance burden and improve ease of doing business.
This story does not have two clearly opposing sides.
SEBI’s board approved a proposal to ease the call-recording requirement.
The new provisions are due to come into effect.
- Retention period
- Five years
- Effective date
- November 8
- Client coverage
- All clients, including prospective clients
- Exemption
- Call recordings of interactions with institutional investors are not mandatory
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RA shall maintain records of interactions, with all clients including prospective clients (before onboarding), where any conversation related to its services has taken place, inter alia, in the form of physical record written and signed by client; call recordings; email from registered email ID; record of SMS messages and any other legally verifiable record