Who Is a SEBI Registered Research Analyst and What Can They Legally Provide in India

A SEBI registered research analyst is a professional or entity formally authorised by SEBI under the Research Analysts Regulations 2014 to publish research reports and issue buy, sell or hold recommendations on securities including stocks, futures and options. In a market where anyone can open a Telegram channel and call themselves an expert, the legal and practical distinction matters enormously. A SEBI registered research analyst is the only legitimately authorised entity you should rely on for paid stock research and trade recommendations in India.

Click Here – Get Free Investment Predictions

What a Registered Research Analyst Can and Cannot Do

A SEBI registered research analyst is authorised to publish research reports, provide trade recommendations with entry, target and stop-loss levels, issue sector commentary and charge subscribers for these services. They can cover equity stocks, F&O instruments on SEBI-regulated exchanges, and exchange-traded funds across asset classes.

What they cannot do is provide personalised advice tailored to a specific individual’s financial goals, liabilities and risk profile. That is the legal domain of a SEBI Investment Adviser. A registered research analyst publishes research for their entire subscriber audience, not customised financial plans for individual clients.

Qualification Requirements

To become a SEBI registered research analyst, candidates must hold a post-graduate degree in finance, economics, business management, capital markets or related fields from a recognised institution. They must pass the NISM Series XV Research Analyst Certification Examination and have a minimum of two years of relevant experience in research or financial analysis. Entities applying for this registration must also appoint a principal analyst and establish adequate compliance and record-keeping systems before the licence is granted.

Screen the best stocks on the Univest Screener.

Key Compliance Obligations

Every research report published by a registered analyst must disclose all conflicts of interest, including whether the analyst or associates hold positions in recommended securities. Reports must state the recommendation basis, risks involved and a regulatory disclaimer. Records of all reports and client communications must be maintained for at least five years. SEBI can conduct inspections at any time, and the SEBI registered research analyst must cooperate fully and provide all requested documentation without delay.

How to Verify a Research Analyst’s SEBI Registration

Visit sebi.gov.in, navigate to Intermediaries, select Research Analysts and search by entity name or INH-prefixed registration number. A genuine SEBI registered research analyst will appear with their registration date, current validity status, principal analyst name and registered address. Always verify this independently on the official SEBI website before subscribing to any research service or acting on any recommendation.

Conclusion

A SEBI registered research analyst is the legally authorised source of stock recommendations, trade ideas and market research for retail investors in India. With thousands of unregistered tip providers active in 2026, relying on a properly credentialed registered analyst for your research is the most important step you can take to protect your capital. Always verify the INH-prefixed SEBI registration number and ensure complete trade parameters accompany every recommendation before placing any trade.

Download the Univest iOS App or the Univest Android App to get daily stock recommendations and expert research.

FAQs

What is a SEBI registered research analyst?

It is an entity authorised by SEBI under the RA Regulations 2014 to publish stock research, trade recommendations and market reports for subscribers. A SEBI registered research analyst must disclose conflicts of interest and comply with SEBI’s code of conduct in all published research.

How do I find and verify one?

Visit sebi.gov.in, go to Intermediaries and select Research Analysts. Search by name or registration number. A valid registration will have an INH-prefixed number with a currently active status.

Can they provide personalised portfolio advice?

No. A registered research analyst publishes research for all subscribers equally. Personalised portfolio advice based on individual circumstances requires a SEBI Investment Adviser registration.

What certification must they pass?

Candidates must pass the NISM Series XV Research Analyst Certification Examination alongside meeting education and experience requirements set by SEBI for individual applicants.

Investments in securities are subject to market risk. This content is for educational purposes only and does not constitute investment advice.