SEBI Registration for Research Analyst

Securities and Exchange Board of India (Research Analysts) Regulations, 2014 defines Research Analyst as an individual who is primarily responsible for the preparation or publication of the content of the research report, providing research report, making recommendations for ‘buy/sell/hold’, giving price target or offering an opinion regarding public offer.

In order to become a Research Analyst in India, it is mandatory to obtain SEBI Research Analyst Registration. Without SEBI registration for research analyst, an individual cannot practice as a Research Analyst in the country.

SEBI Registered Research Analyst Eligibility

As per Regulation 7 and Regulation 8 of the Research Analysts Regulations 2014, to become SEBI registered research analyst, the following eligibility criteria must be met:

• The applicant must have a professional qualification or postgraduate degree or post graduate diploma in any of the following fields: finance, accountancy, business management, commerce, economics, capital market, financial services or markets.
• The qualification/degree/diploma in the aforementioned fields must be provided by a university which is recognized by University Grants Commission (UGC) or by any other commission/council/board/body established under an Act of Parliament in India for the purpose or an institute/association affiliated with such university; or an institute/association/university established by the central government or state government or autonomous institute falling under administrative control of Government of India; or
• The applicant must have a professional qualification or postgraduate degree or postgraduate 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 which has been set up in India under an Act of Parliament for the purpose; or
• The applicant must have 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 a graduate in any discipline with an experience of at least 5 years in activities which are related to financial products/markets/securities/fund/asset/portfolio management. 
• An individual registered as research analyst under the SEBI 2014 regulations, 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 Board or any other certification which is recognized by the Board from time to time.
• If the research analyst is an individual or partnership firm, it is mandatory to have net tangible assets of value not less than 1 lakh rupees. 
• In case, the research analyst is a body corporate or limited liability partnership firm, it is required to have a networth which is not less than 25 lakh rupees. 

Documents required for Research Analyst Registration

While filing the application for research analyst registration, certain documents are required to be submitted along with the application form. These documents are mentioned below:

• Identity Proof (PAN/Aadhaar Card)
• Address Proof (Aadhaar Card/Passport)
• Educational Qualification Certificates such as Graduation and Post Graduation Certificates, NISM Certificate and Experience Certificate.
• Net Worth Certificate from CA.
• Income Tax Returns (ITR) of the last 3 years.
• Business plan and information regarding current activities.
• Any other documents required by SEBI during the Research Analyst Registration process.
• Along with above-mentioned documents, certain declarations shall also be submitted:
  • Declaration of Compliance with Schedule II of SEBI Regulations.
  • Declaration of Compliance with all the Relevant Clauses of Chapter III of the Regulations.  
  • Declaration of Compliance with Regulation 7(1) of Research Analysts Regulations 2014.
  • Declaration of Compliance with Regulation 7(2) of Research Analysts Regulations 2014.
  • Declaration of Necessary Infrastructure Availability.

SEBI Registered Research Analyst Process

The Research Analyst Registration process of SEBI involves the following steps:

Filing Application For Research Analyst Registration

For the grant of Research Analyst Registration, the applicant must file an application using Form A provided in the SEBI (Research Analyst) Regulations, 2014 from Page No. 25 - 29 and also attach all the necessary supporting documents along with it. While submitting the application, the prescribed application fee must also be paid.

The application must be submitted to the relevant SEBI Head Office, Regional Office, or Local Office within the jurisdiction of the applicant's registered address in order to be granted registration as a SEBI registered research analyst under the SEBI (Research Analysts) Regulations, 2014. 

Examination of the application by SEBI

For the purpose of considering the grant of registration for research analyst, SEBI will take into consideration all the requirements specified in the 2014 regulations. Upon reviewing the research analyst registration application, if SEBI is satisfied that the applicant meets all the requirements, it’ll approve the application and the applicant will be informed about the same.

Payment of Registration Fee & Grant of Certificate of Registration

Once the application has been approved by SEBI, the applicant is required to pay the prescribed registration fees by the way of bank draft in favor of SEBI. If the applicant is a body corporate or LLP, the registration fee is Rs. 5,00,000. If the applicant is an individual, partnership firm or proxy advisor, the registration fee is Rs. 10,000/ 

Once registration fee has been paid, SEBI will grant the applicant the Certificate of Registration. Upon receiving the Research Analyst Certificate from SEBI, the applicant can offer Research Analyst services as defined under SEBI (Research Analyst) Regulations, 2014.

Why Choose Registrationwala for Assistance in Research Analyst Registration?

If you plan to apply for Research Analyst Registration, filing the application on your own can be a bit complicated due to all the paperwork. If you choose Registrationwala for assistance in Research Analyst Registration, your Research Analyst Registration process with SEBI will be smooth and efficient.

Here are the top benefits of availing our services:

Consultation 

To understand your specific needs, our team of Research Analyst Registration Consultants offer personalized consultation and guide you through the entire process of Research Analyst Registration. 

If you have any doubts regarding the registration process, we’ll make sure to clarify them and explain all the regulatory requirements of SEBI and outline all the steps involved.

Initial Assessment and Advice

Our Research Analyst Consultants at Registrationwala conduct a thorough initial assessment of your eligibility and preparedness for Research Analyst Registration. On the basis of this assessment, our consultants offer tailored advice so that you can meet the necessary criteria and reduce the risk of having your application rejected by SEBI.

Documentation Assistance

For successful Research Analyst Registration, it is extremely important to have accurate and complete documentation. Registrationwala, with its team of professionals, will assist you in preparing and organizing all the necessary documentation according to the standards and guidelines of SEBI. Due to our team’s meticulous approach, your application will be free from errors and the approval process will be streamlined.

Application Submission

Registrationwala team will handle the entire application submission process on your behalf. You can rest assured that your form will be filled correctly and submitted in a timely manner. We have more than a decade of expertise when it comes to dealing with SEBI’s procedures. This means that your application will be processed efficiently and your chances of obtaining the Research Analyst Registration will be increased.

By choosing Registrationwala, you’ll benefit from our comprehensive support, expert guidance, and dedicated service. We will make the entire SEBI Research Analyst Registration process straightforward and stress-free for you. So, don’t wait and get in touch with us now!

Frequently Asked Questions (FAQs) about Research Analyst Registration

Q1. How are the Research Analysts regulated in India?

A. The research analysts in India are regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Research Analysts) Regulations, 2014 (“RA Regulations”).

Q2. Who is a proxy advisor according to SEBI?

A. According to SEBI, a "Proxy adviser” refers to an individual who provides advice to institutional investors or shareholders of a company in relation to exercise of their rights in the company including recommendations on public offer or voting recommendation regarding agenda items.

Q3. Where should the application for Research Analyst be submitted?

A. The application for research analyst registration has to be submitted with either the SEBI’s Head Office (HO), the concerned Regional Office (RO) or Local Office under the jurisdiction of which the applicant’s registered address is located.

Q4. What is the capital requirement for becoming a SEBI registered research analyst?

A. A research analyst who is an individual or a partnership firm is required to have a net worth which is not less than Rs. 1 Lakh. A research analyst which is a body corporate or an LLP is required to have a net worth which is not less than Rs. 25 Lakh.