Regulation 8 - Deposit - Securities and Exchange Board of India (Research Analysts) Regulations, 2014

1 [ Deposit . 8. (1) A research analyst shall maintain a deposit of such sum as specified by the Board from time to time. (2) The deposit shall be maintained with a scheduled bank, marked as lien in favour of a body or body corporate recognised by the Board for the purpose of administration and supervision of research analysts in accordance with regulation 14 of these regulations: Provided that such deposit shall be available for utilization in case the research analyst fails to pay dues emanating out of arbitration and conciliation proceedings, if any, under the Online Dispute Resolution Mechanism or such other mechanism as may be specified by the Board. ] ***************** NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/220 dated 16-12-2024 before it was read as, Capital adequacy. 8. (1) A research analyst who is individual or partnership firm shall have net tangible assets of value not less than one lakh rupees. (2) A research analyst who is body corporate or limited liability partnership firm shall have a networth of not less than twenty five lakh rupees. (3) All existing research analysts shall comply with the capital adequacy requirement within one year from the date of commencement of these regulations. Explanation. For the purposes of this regulation, networth 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.