SEBI Sets New Guidelines for Research Analysts: Registration, Compliance, Fee Caps, and More to Enhance Transparency.

The SEBI circular provides the following key points regarding research analysts (RAs): 1. Eligibility criteria for part-time RAs, including restrictions on providing advice/recommendations on securities without SEBI registration. 2. Compliance requirements such as appointing a compliance officer, using AI tools responsibly, maintaining research reports, disclosing terms and conditions to clients, and obtaining client consent. 3. Guidelines on fees chargeable to clients, with an annual limit of Rs. 1.51 lakh per family for individual/HUF clients. 4. Mandatory client-level segregation of research and distribution activities within an RA's group/family. 5. Guidelines for recommending model portfolios, including disclosures, methodology, benchm..... .....

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