{"id":2495,"date":"2025-02-12T11:08:19","date_gmt":"2025-02-12T11:08:19","guid":{"rendered":"https:\/\/fastlegal.in\/blog\/?p=2495"},"modified":"2025-02-12T11:08:19","modified_gmt":"2025-02-12T11:08:19","slug":"research-analyst","status":"publish","type":"post","link":"https:\/\/fastlegal.co.in\/blog\/company-registration\/research-analyst\/","title":{"rendered":"How to Become SEBI Registered Research Analyst"},"content":{"rendered":"\n<p>No person shall act as a research analyst or research entity or hold itself out as a research analyst unless he has obtained a certificate of registration from the <a href=\"https:\/\/www.sebi.gov.in\/legal\/regulations\/aug-2021\/securities-and-exchange-board-of-india-research-analysts-regulations-2014-last-amended-on-august-03-2021-_34615.html\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.sebi.gov.in\/legal\/regulations\/aug-2021\/securities-and-exchange-board-of-india-research-analysts-regulations-2014-last-amended-on-august-03-2021-_34615.html\" rel=\"noreferrer noopener\">SEBI under (RESEARCH ANALYSTS) Regulations, 2014<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Who is Research Analyst <\/h2>\n\n\n\n<p>Research analyst\u201d means a person who is primarily responsible for<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>preparation or publication of the content of the research report; or <\/li><li>providing research report; or <\/li><li>making &#8216;buy\/sell\/hold&#8217; recommendation; or iv.giving price target; or <\/li><li>offering an opinion concerning public offer,with respect to securities that are listed or to be listed in a stock exchange, whether or not any such person has the job title of &#8216;research analyst&#8217; and includes any other entities engaged in issuance of research report or research analysis.<\/li><li>Explanation.-The term also includes any associated person who reports directly or indirectly to such a research analyst in connection with activities provided above<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/fastlegal.in\/blog\/wp-content\/uploads\/2021\/09\/Copy-of-Copy-of-Startup-India-Registration-1.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/fastlegal.in\/blog\/wp-content\/uploads\/2021\/09\/Copy-of-Copy-of-Startup-India-Registration-1-1024x576.png\" alt=\"Research Analyst \" class=\"wp-image-2496\" title=\"\" srcset=\"https:\/\/fastlegal.co.in\/blog\/wp-content\/uploads\/2021\/09\/Copy-of-Copy-of-Startup-India-Registration-1-1024x576.png 1024w, https:\/\/fastlegal.co.in\/blog\/wp-content\/uploads\/2021\/09\/Copy-of-Copy-of-Startup-India-Registration-1-300x169.png 300w, https:\/\/fastlegal.co.in\/blog\/wp-content\/uploads\/2021\/09\/Copy-of-Copy-of-Startup-India-Registration-1-768x432.png 768w, https:\/\/fastlegal.co.in\/blog\/wp-content\/uploads\/2021\/09\/Copy-of-Copy-of-Startup-India-Registration-1-1536x864.png 1536w, https:\/\/fastlegal.co.in\/blog\/wp-content\/uploads\/2021\/09\/Copy-of-Copy-of-Startup-India-Registration-1-2048x1152.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">What is Research Report <\/h2>\n\n\n\n<p>\u201cresearch report\u201d means any written or electronic communication that includes research analysis or research recommendation or an opinion concerning securities or public offer, providing a basis for investment decision and does not include the following communications:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>comments on general trends in the securities market;<\/li><li>discussions on the broad-based indices;<\/li><li>commentaries on economic, political or market conditions;<\/li><li>periodic reports or other communications prepared for unit holders of mutual fund or alternative investment fund or clients of portfolio managers and investment advisers;<\/li><li>internal communications that are not given to current or prospective clients;<\/li><li>communications that constitute offer documents or prospectus that are circulated as per regulations made by the Board;<\/li><li>statistical summaries of financial data of the companies;<\/li><li>technical analysis relating to the demand and supply in a sector or the index;<\/li><li>any other communication which the Board may specify from time to time<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Qualification and certification requirement for Research analyst <\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>A professional qualification or post-graduate degree or post graduate diploma in finance, accountancy, business management, commerce, economics, capital market, financial services or markets provided by:<ul><li>a university which is recognized by University Grants Commission or by any other commission\/council\/board\/body established under an Act of Parliament in India for the purpose; or<\/li><\/ul><ul><li>an institute\/association affiliated with such university; or<\/li><\/ul><ul><li>an institute\/ association\/university established by the central government or state government; or<\/li><\/ul><ul><li>autonomous institute falling under administrative control of Government of India; or<\/li><\/ul><\/li><li>professional qualification or post-graduate degree or post graduate diploma which is accredited by All Indian Council for Technical Education, National Assessment and Accreditation Council or National Board of Accreditation or any other council\/board\/body set up under an Act of Parliament in India for the purpose; or<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li> a professional qualification by completing a Post Graduate Program in the Securities Market (Research Analysis) from NISM of a duration not less than one year; or<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li>a graduate in any discipline with an experience of at least five years in activities relating to financial products or markets or securities or fund or asset or portfolio management and <\/li><li>An individual registered as research analyst , individuals employed as research analyst and partners of a research analyst, if any, shall have, at all times, a NISM certification for research analysts as specified by the SEBI or other certification recognized by the SEBI from time to time<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Capital Adequacy Requirement for Research Analyst <\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>A research analyst who is individual or partnership firm shall have net tangible assets of value not less than one lakh rupees<\/li><li>A research analyst who is body corporate or limited liability partnership firm shall have a networth of not less than twenty five lakh rupees<\/li><\/ul>\n\n\n\n<p>&#8220;net worth&#8221; means the aggregate value of paid-up share capital plus free reserves (excluding reserves created out of revaluation) reduced by the aggregate value of accumulated losses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Step By Step Procedure for Registration as Research Analyst With SEBI<\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Fullfill Experiance and Education Qualfication reequirements as mentioned above <\/li><li>Pass required NISM Examination<\/li><li>Ensure to have Net Tengible assets of Rs. 1 Lakh for Individual \/partnership Firm or Networth of Rs. 25 Lakh for Companies \/LLP<\/li><li>Application to SEBI for Research Analyst Registration inForm A <\/li><li>Payment of Application fee<\/li><li>Reply to Clearification raised by SEBI<\/li><li>Approval by SEBI <\/li><li>Payment of Registration Fee<\/li><li>Issue of Certificate of Registration by SEBI<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Fee for SEBI Research Analyst Registration <\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Application Fee<\/h3>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li>For individuals or partnership firms: Rupees 5000;<\/li><li>For Body Corporate including Limited Liability Partnerships: Rupees 50000<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Registration Fee<\/h3>\n\n\n\n<ol class=\"wp-block-list\" type=\"i\"><li>For individuals or partnership firms: Rupees 10000;<\/li><li>For Body Corporate including Limited Liability Partnerships: Rupees 500000<\/li><\/ol>\n\n\n\n<h1 class=\"wp-block-heading\">Research Services Details in Application<\/h1>\n\n\n\n<ul class=\"wp-block-list\"><li>Details of the proposed research services<\/li><li>Details about internal policies and procedures to effectively address conflict of interest<\/li><li>Details about the standard disclosures to be provided<\/li><li>Any other relevant information pertaining to research services provided<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Office Requirements for SEBI Research Analyst Registration <\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Details of office space, office equipment, furniture and fixtures, communication facilities, research capacity, research software for undertaking research analysis.<\/li><li>Declaration that the applicant has the necessary infrastructure to effectively discharge the activities of research analyst.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Documents required for Research Analyst Application (Individual Applicant) <\/h2>\n\n\n\n<ul class=\"wp-block-list\"><li>Copy of PAN and Aadhar <\/li><li>Last 3 Years Income Tax Return <\/li><li>Education qualifcation documents <\/li><li>NISM Certificates <\/li><li>Experiance Certificate<\/li><li>Networth Certificate <\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>No person shall act as a research analyst or research entity or hold itself out as a research analyst unless he has obtained a certificate of registration from the SEBI under (RESEARCH ANALYSTS) Regulations, 2014 Who is Research Analyst Research&hellip; <a href=\"https:\/\/fastlegal.co.in\/blog\/company-registration\/research-analyst\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1432,7015],"tags":[],"class_list":["post-2495","post","type-post","status-publish","format-standard","hentry","category-company-registration","category-sebi"],"_links":{"self":[{"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/posts\/2495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/comments?post=2495"}],"version-history":[{"count":1,"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/posts\/2495\/revisions"}],"predecessor-version":[{"id":2497,"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/posts\/2495\/revisions\/2497"}],"wp:attachment":[{"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/media?parent=2495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/categories?post=2495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fastlegal.co.in\/blog\/wp-json\/wp\/v2\/tags?post=2495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}