SEBI Services · Research Analyst

SEBI Research Analyst Registration obtain your SEBI Research Analyst licence and operate a compliant investment research business.

SEBI Research Analyst registration is mandatory for any individual or entity that publishes investment research reports, provides stock recommendations, or issues buy/sell/hold ratings on securities to clients — with registration under SEBI (Research Analysts) Regulations, 2014 required before commencing any such activity.

Any person who provides investment research or recommendations on securities — whether through published reports, subscription services, social media, or advisory calls — is required to be registered as a Research Analyst with SEBI under the SEBI (Research Analysts) Regulations, 2014. Operating without registration is a violation of SEBI regulations and attracts enforcement action including cease-and-desist orders, financial penalties, and disgorgement of fees.

The registration requirement applies to individuals, partnership firms, LLPs, and companies. Eligibility conditions include minimum qualifications (NISM Series XV certification), net worth requirements, and fit-and-proper criteria. Registered Research Analysts must also comply with ongoing obligations — disclosure of conflicts of interest, separation of research from advisory activities, record-keeping, and annual compliance reporting to SEBI.

At Beyonte Compliances, we provide end-to-end Research Analyst registration support — from eligibility assessment and application preparation through to post-registration compliance setup — ensuring your research business is fully authorised and operationally compliant from day one.

What Our Registration Service Covers

Our Process

Eligibility & Qualification Review

Reviewing the applicant's qualifications, NISM certification status, net worth, and fit-and-proper criteria to confirm eligibility for registration.

Document Preparation

Gathering educational certificates, NISM scorecard, net worth certificate, PAN, KYC documents, and entity incorporation documents for the application.

Application Filing on SEBI Portal

Completing and submitting the Research Analyst registration application on the SEBI Intermediary Portal with all required attachments.

SEBI Query Response

Responding to any clarifications or additional information requests from SEBI during the application review process.

Registration Certificate & Compliance Setup

Receiving the SEBI Research Analyst registration certificate and setting up the compliance framework for ongoing regulatory obligations.

Why It Matters

✓SEBI registration is legally required before commencing the regulated activity — operating without it is an offence

✓Registered status builds client credibility and trust in a market where investor protection is paramount

✓Compliance framework setup from day one prevents inadvertent regulatory violations as the practice grows

✓Proper documentation of client interactions protects against complaints and SEBI enforcement actions

✓SEBI-authorised status is a prerequisite for empanelment with leading financial institutions and platforms

✓Annual compliance management keeps the registration current and avoids lapse or suspension

✓Fee and commission disclosure compliance protects against SEBI action on undisclosed conflicts of interest

✓Structured registration process reduces application processing time and minimises SEBI query rounds

Frequently Asked Questions

Any person — individual, firm, or body corporate — who provides research reports, investment recommendations, or ratings on publicly traded securities to clients for a fee is required to register as a Research Analyst with SEBI. This includes individuals running stock-tip services, financial content creators monetising securities recommendations, and institutional research desks.

Individual Research Analysts must have a minimum net worth of ₹1 lakh. Non-individual entities — companies, LLPs, and partnership firms — must have a minimum net worth of ₹25 lakh. The net worth must be certified by a Chartered Accountant on the prescribed format and submitted with the application.

The NISM Series XV (Research Analyst) examination is a mandatory certification for all Research Analyst applicants under SEBI regulations. It tests knowledge of financial analysis, valuation, research report standards, regulatory requirements, and ethics. The certificate is valid for three years and must be renewed by passing a continuing professional education requirement.

No. SEBI requires strict separation between research analyst and investment adviser activities. A registered Research Analyst cannot simultaneously act as an Investment Adviser (IA) — and vice versa — to prevent conflicts of interest between research output and personalised investment advice.

Launch a fully authorised research business with the right SEBI registration.

Talk to our team about obtaining your SEBI Research Analyst registration and setting up a compliant research practice.