The Securities and Exchange Board of India (SEBI) on December 16, 2024, issued the Securities and Exchange Board of India (Research Analysts) (Third Amendment) Regulations, 2024, to further amend the Securities and Exchange Board of India (Research Analysts) Regulations, 2014.
This shall come into force on December 17, 2024.
The following has been stated namely: -
• In regulation 2 (1), after clause (f) and before clause (g), the new definition clauses shall be inserted, “(fa) “consideration”, (fb) “family of an individual research analyst”, and “(fc) “family of client”.
• In regulation 3 (1), after the second proviso, the following proviso shall be inserted, namely: - “Provided further that any principal officer, person associated with research services and partner of a research analyst which is registered under these regulations shall not be required to seek registration under regulation 3, subject to compliance with regulation 7 of these regulations.”
• In regulation 9, after the words “Form B” and before the words “under First Schedule”, the words and symbols “to a research analyst or in Form C to a part-time research analyst, as the case may be” shall be inserted.
• After regulation 19, a new regulation shall be inserted: - “19A. – Website. A Research analyst or research entity shall maintain a functional website containing such details as may be specified by the Board.”
Detailed notification is attached below.
[Notification no. - SEBI/LAD-NRO/GN/2024/220]
