ValuePickr Forum

SEBI Research Analyst Guidelines, Sep 1, 2014

SEBI has come out with a Comprehensive set of Regulations for Research Analysts on Sep1, 2014. We feel these are much needed steps to help make our Markets safer for Retail Investors, and welcome these regulations.

Online Investment Research & Analysis Forums such as ValuePickr fall under the entities that need to be regulated.A copy of the Guidelines is attached - primarily for information dissemination purposes, at the moment.

As users of ValuePickr website and Forum, Members need to keep themselves informed on current regulations. Please watch this space, on an ongoing basis.

RESEARCHANALYSTS-regulations_p.pdf (388 KB)

1 Like

ValuePickr Website & Forum discussions are close to completing ~ 5 Years, since March 2010.We are consulting Domain Experts to understand compliance requirements and adhere to the same.

Meanwhile, as an immediate first-step, VP Public Portfolio Recommendations are being suspended forthwith. As & when further clarity emerges, we will keep advising through this thread. Kindly watch this space on an ongoing basis.

All members are expressly requested to read through these Guidelines, and refrain from making any Recommendations, themselves in stock-specific discussions.

UNLESS YOU ARE A LEGAL EXPERT, DO NOT CLUTTER UP THIS THREAD, WITH OPINION PIECES.

WE WELCOME YOUR CONSIDERED VIEWS - IF YOU ARE A LEGAL EXPERT OR, IF YOU ARE AN AFFECTED ENTITY SUCH AS INVESTMENT BLOGGERS, AUTHORS & INDEPENDENT RESEARCH ANALYSTS, ETC

We will be grateful for anyone competent (having the requisite legal expertise) within the VP Community, to scrutinise attached document and share his/her observations first - make everyone aware of the Compliance Requirements.

An informed discussion here among affected entities and Legal experts will be healthy and appropriate for wider dissemination and awareness creation among Members and the larger Investment Community.

We are also consulting domain experts and will be updating here as & when we have more clarity on specifics.

Is there any update on this? Can we start a new stock discussion in light of the attached document? If its thought that valuepickr forum is affected, wouldnt it also affect moneycontrol board? I do not see anyone cautioning anything there? If possible, kindly update us

Explicit Recommendations have been requested to be stopped.

There is no impact on having stock-specific discussions or starting new discussions for that matter. Just be careful to avoid putting in any Buy/Sell/Hold recommendations of your own.

We can freely discuss anything and everything about the business, entry barriers, business quality, Management quality, investment arguments for and against, and whetever else we may want to bring up - as long as we refrain from making explicit recommendations.

Discuss - by all means. But be RESPONSIBLE. Know what is being regulated. Why it is important! What it is aiming to prevented. Be AWARE.

Hope this suffices.

Great News. To put it candidly, We will have the benefit of all great stocks being discussed extensively - management interviews, Thoughts of Pros on Valuations etc. but may not have the liberty of Value Pickr Portfolio. Am i correct?

Regards Ronak

ValuePickr Public Portfolio explicit recommendations and any other explicit/implicit recommendations are to be avoided.

Everything else is in :slight_smile:

hello admin,

Could you pls share the source of your findings - which states that explicit recommendations need to be avoided and rest all is fine. Has SEBI candidly said so or this is your interpretation based on some legal opinion?There is still a lot of debate on the issue - your findings will help clarify things.

Regards Ronak.

Dear Admin Sir,

Is it possible to analyze some new stock ideas in forum like (Untested but Hey worth a look) or (Not so hidden gems) about financial strengths, quality of business, quality of management etc. by our members. Members should strictly stayaway from explicit Buying or Selling suggestions. Any decisions of investing on a particular stock is solely made on conscience of any member without expressing his positions in that particular stock.

Yes. That is the sensible approach to take by anyone putting forward their views on public forums.

Admin - FAQ on regulations

Q10 clarifies few doubts

“Independent research analyst” means a person whose only business activity is

research analysis or preparation and/or publication of research report

and includes individuals engaged in providing research services without being employed with any research entity (intermediary) and entities other than SEBI registered intermediaries who are engaged in research activities.[refer to Regulation 2(h )

Hello guys…I am planning to put a few fundamental analysis videos of stocks on youtube. I just wanted to make sure that it ia allowed under the ambit of SEBI rules? I am not a SEBI registered RA or Investment Advisor…can I still go ahead if I put proper disclosures in place?

I feel you can put anything with proper disclaimer that this is for educational purpose only and not any recommendations. Also that you are not sebi registered etc etc. You may find such disclaimers as foot note to many blogs and articles

Sample below:

Note: The above is not a research report but information as available on public domain and it should not be treated as a research report.
Registration status with SEBI: I am not registered with SEBI under the (Research Analyst) regulations 2014 and as per clarifications provided by SEBI: “Any person who makes recommendation or offers an opinion concerning securities or public offers only through public media is not required to obtain registration as research analyst under RA Regulations”
Disclosure: It is safe to assume that i might have Sterling & Wilson Solar Ltd in my portfolio and hence my point of view can be biased. Readers should consult their financial advisory before any investments.

1 Like