How to register with SEBI as a Research Analyst?

SEBI Regulations
21

Milind, I have just received the approval for my registration. I do not have detailed information on what and how records need to be maintained.

22

Ok thanks for the reply if impossible just update once whenever u get the info plz

23

Thanks for starting this thread. I was under the impression that CFA is the only pathway but now that a PG course in Finance is valid, it will open various doors for many people. I had a query regarding starting a firm which is SEBI Registered Research Analyst. Would anyone be able to help with regards to the process for this ?

24

Hello Ashish,

Thank you for initiating this thread. Really useful for budding folks who are looking for a career in Equity research!

I have applied for RA, a couple of weeks back but havenā€™t heard back from them yet.
What is the usual duration by when one can expect a response? Any way to track my application status?

25

Hi Mihir,

You should get a response in 4-6 weeks. You will get an email from a SEBI employee. It will typically ask for some additional documents or some clarifications/information about your application.

There is no mechanism to track your application status that I know of.

All the best.

Regards,
Ashish
EquityMidas.com

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26

Ok, I see.
Many thanks, Ashish for these details!

27

Hi Ashish ,

Is my understanding correct that one has to be NISM Research Analyst XV certified before registering with SEBI as a RA ?

Also do you think that my profile of B.E and a one year business management diploma suffices the education criteria ?

Thanks

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28

Yes, NISM Research Analyst XV certification is a mandatory requirement.

Was the business management diploma with finance specialization? If yes, it might suffice the education criteria as long as the university is a recognized one.

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29

Hi Ashish,
The PG you did seems to be a 1 year course, I understand that the requirement for those not working in the industry has been revised to a 2 year course.

I am referring specifically to the proposed amendment as per this link. It seems to be a recent development and I am not sure if its in effect already. Extract from P.14 below. Would be helpful to know your thoughts?

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image678Ɨ509 48.6 KB

30

Hi,

You are referring to the education qualification criteria for an IA (Investment Adviser). My post is about RA (Research Analyst).

I will check if the criteria has been updated since I wrote that post.

Regards,
Ashish Arole
EquityMidas.com

31

Hi Ashish,

Nice thread explaining lot of aspects of RA registration. Could you explain what are the norms to be followed by RA in buying and selling the stocks recommended by him.
Example - Can RA buy the stocks he recommended after certain timelines?

32

Hi Jignesh,

Please refer to this document: https://www.sebi.gov.in/sebi_data/commondocs/RESEARCHANALYSTS-regulations_p.pdf

Page 12, Chapter III, Point 16.2 says:
ā€œIndependent research analysts, individuals employed as research analyst by research entity or their associates shall not deal or trade in securities that the research analyst recommends or follows within thirty days before and five days after the publication of a research reportā€

4 Likes
33

Can you help me understand the 14 day period of the activation link? Iā€™m trying to apply this month, and have received the activation link.

From there I have already created my login id and password and started filling the form.

Do I need to submit the form within 14 days? Or did I just have to create the login-id from the activation link within 14 days?

34

Per my understanding, the link activation is only for your login. There is no limit on when you can submit your application after activation of your login.

35

Hi ,

I appreciate your detailed inputs on this issue.

Can you clarify about the five declarations you have mentioned . Do i have to download the format , fill it , sign it and scan it to send to SEBI or its a part of the online form where we give details like address details , personnel details ?

Thanks
Pranit

36

Hi Pranit,
The form is to be filled online.

The declarations are to be uploaded with the form. I have shared with you on DM the templates I used for these self declarations, Let me know if that is useful. Do note that the templates are for Individual Independent RA application and may not suit other category of applicants.

Regards,
Ashish Arole

37

Hi Ashish ,

Thank you so much for the documents.

They are very helpful.

2 Likes
38

Thanks for the post.

Do we need to attach resignation letter from the previous company to show that i want to RA on a full time basis?

39

Hello Ashish,

I fulfill the education qualification criteria . Still it prompts me to upload documents supporting the experience. Please guide me how to deal with it?

Thanks

40

It is not a requirement while filling in the form. SEBI might come back to you with a question on this, you can respond to them then.

1 Like