Types of Research Analysts

Independent Research Analyst

Provides paid research reports and investment insights directly to clients without being associated with any brokerage or fund house.

Sell-Side Research Analyst

Works with brokerage firms and provides research reports to their clients.

Buy-Side Research Analyst

Works with mutual funds, portfolio managers, and institutional investors for internal investment analysis.

Services Provided by Research Analysts

A SEBI Registered Research Analyst may provide:

• Equity research reports
• Stock analysis and recommendations
• Fundamental analysis
• Technical analysis
• Sector and industry research
• Market and economic analysis
• Investment insights and research-based opinions

Eligibility Criteria for SEBI Research Analyst Registration

Applicants must fulfill the following requirements:

• Graduate degree from a recognized university or equivalent qualification
• Must clear NISM Series XV-A Research Analyst Certification Examination
• Must satisfy SEBI "Fit and Proper Person" criteria
• Must comply with SEBI experience and qualification requirements
• Must maintain required financial and regulatory compliance

Documents Required for Research Analyst Registration

The major documents required include:

• PAN Card
• Aadhaar Card / Identity Proof
• Address Proof
• Educational Qualification Certificates
• NISM Certification Certificate
• Income Tax Returns
• Business Plan
• Infrastructure Details
• Required SEBI declarations

SEBI Research Analyst Registration Process

Step 1: Clear NISM Certification Exam

The applicant must clear the NISM Series XV-A Research Analyst Certification Examination.

Step 2: Prepare Application & Documents

All required documents, declarations, and compliance details are prepared.

Step 3: Submit Application to SEBI

The application is filed through the prescribed SEBI registration platform along with applicable fees.

Step 4: SEBI Review & Approval

SEBI examines the application and verifies eligibility, documents, and compliance requirements.

Step 5: Grant of Research Analyst License

After approval, SEBI issues the Research Analyst Certificate of Registration, allowing the applicant to provide research services legally.

Deposit Requirement for Research Analysts

SEBI requires registered Research Analysts to maintain a prescribed deposit based on the number of clients served.

The deposit requirement varies according to the client base and must be maintained as per applicable SEBI guidelines.

Why Choose CA Anytime for SEBI RA Registration?

CA Anytime provides complete assistance for obtaining a SEBI Research Analyst License:

✔ Eligibility assessment
✔ NISM certification guidance
✔ Documentation support
✔ SEBI application filing
✔ Compliance assistance
✔ Regulatory guidance

Our experts help individuals and businesses complete the SEBI RA Registration process smoothly and efficiently.