A practical compliance guide for SEBI Registered Research Analysts covering registration requirements, research report standards, disclosures, conflict management, advertisement rules, PaRRVA framework, cybersecurity, KYC/AML obligations, record maintenance, regulatory reporting, SEBI inspections and the latest SEBI regulatory requirements.
Prepared for internal staff training and client education for SEBI Registered Research Analysts (Individuals and Non-Individuals), Principal Officers, Compliance Officers, Research Supervisors, Investment Research Teams, Compliance Professionals, Internal Auditors, Legal Teams and Senior Management.
Built on the SEBI (Research Analysts) Regulations, 2014 (as amended), the SEBI Master Circular for Research Analysts, Advertisement Code, PaRRVA Framework, cyber security requirements, AML/PMLA obligations and other applicable SEBI circulars consolidated up to July 2026.
How To Use This Docket
This docket has been prepared as a practical compliance manual to help research analyst professionals answer one simple question:
"Can a Research Analyst do this?"
without searching across hundreds of regulations, SEBI circulars, Master Circulars and operational guidelines.
Every chapter follows a consistent format:
Brief Explanation → ✔ DO → ✘ DON'T → Practical Implications → Exact Regulatory Reference
The objective is to provide a single reference document covering the operational, ethical and regulatory framework governing SEBI Registered Research Analysts in India.
All disclosure requirements, reporting obligations and operational requirements have been reproduced based on the applicable regulations and circulars available up to July 2026.
Since Research Analyst regulations evolve frequently through SEBI circulars, Master Circular updates and regulatory amendments, users should always verify the latest regulatory position before relying upon any provision in a professional opinion or client advisory. Golden Rule for Compliance Teams
If a compliance issue is not addressed in this docket—
Do not assume.
Do not rely on memory.
Do not provide verbal guidance.
Instead—
Check the applicable Regulation. Verify the latest SEBI Master Circular. Review the applicable Advertisement Code. Verify whether the PaRRVA framework applies. Confirm whether any subsequent SEBI circular has modified the position. Escalate complex issues before communicating a compliance opinion.
Every compliance opinion should be traceable to an identifiable regulatory source.
Download the Master Research Analyst Compliance Docket
If the link does not open directly on your device, simply copy and paste it into your browser.
Need Professional Assistance? If you require assistance regarding:
Research Analyst registration SEBI inspections Compliance reviews Advertisement Code compliance PaRRVA implementation Research report compliance Conflict management framework Internal compliance audits Cyber Security compliance AML/PMLA compliance Regulatory reporting Social media compliance Finfluencer compliance SEBI enforcement matters
our team would be happy to assist.
+91 96194 56656 office@anujdesaiassociates.com www.anujdesaiassociates.com