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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Certification requirements for persons acting or desirous of acting as a Research Analyst

14-Feb-2025 | No. SEBI/LAD-NRO/GN/2025/231

SEBI has issued a notification regarding certification requirements for persons acting or desirous of acting as a Research Analyst, effective from 1st March 2025. By virtue of this notification, it is notified that an individual registered as a research analyst, a principal officer of a non-individual research analyst, individuals employed as research analysts, persons associated with research services, and in case of the research analyst being a partnership firm, the partners thereof if any, who are engaged in providing research services are required to obtain the following certification requirements in terms of Regulation 3 of SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007 read with Regulation 7(3) of SEBI (Research Analysts) Regulations, 2014- 1. Obtain certification(s) from NISM by passing the 'NISM-Series-XV: Research Analyst Certification Examination', as mentioned in the NISM communique No. NISM/Certification/Series-XV: Research Analyst/2015/01 dated February 16, 2015. 2. Further, in order to ensure continuity in compliance with the certification requirements, before expiry of the validity of the existing certification, obtain the certification by passing the NISM-Series-XV-B: Research Analyst Certification (Renewal) Examination as mentioned in the NISM communiqu? No. NISM/Certification/ NISM-Series-XV-B: Research Analyst Certification (Renewal) Examination/2024/01 dated January 06, 2025. Kindly refer to the attached document for more information.

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