SEBI regulation
Registering as a research analyst is easier, and there are more investors to serve
Your practice can grow within SEBI’s rules, and Yobee helps research desks keep every recommendation on record.
Anyone paid to recommend securities must register, whatever their title
The rule reaches research reports, buy, sell or hold calls, price targets, stop losses, model portfolios and trading calls on listed securities.
Individual or firm
A sole proprietor, partnership firm, LLP or body corporate
Part-time analyst
A professional with other work, serving up to 75 clients
Research entity
A broker or merchant banker whose analysts use its registration
RA and IA
Two registrations one practice can hold, trading calls left to analysts
RAASB
BSE, which takes applications and supervises analysts on SEBI’s behalf
Any graduate with NISM certification can register
SEBI eased the requirements to simplify the advisory ecosystem and encourage formalisation, each change replacing a stricter one.
₹1,00,000
deposit for a practice of up to 150 clients
16 December 2024
A deposit in place of net worth, once ₹25,00,000 for a body corporate
16 December 2024
Part-time registration for professionals with other work, who had been ineligible
2 April 2025
Fees up to 12 months in advance, where the limit had been 3 months
6 August 2025
The deposit held in liquid or overnight fund units, as well as in a bank
25 November 2025
A degree in any discipline, where a degree in a finance field had been needed
11 March 2026
A lighter certification for the sales staff and RMs who carry research
More analysts register each year, and investors pay for their research
The market for registered research is only getting started. India’s investor base grows every year, and the demand for research grows with it.
514registrations
granted by SEBI to new research analysts in 2025-26
₹107Cr
paid to analysts through verified UPI IDs, 1 October 2025 to 31 March 2026
SEBI, Annual Report 2025-26
Practices keep their records and can advertise verified performance
PaRRVA computes each analyst’s risk and return from exchange data, and adopting SEBI PaRRVA starts from what a practice already has on file.
5years
the least time a practice keeps its records
Records
Each report signed and dated, with its rationale and the analyst’s client messages
Terms
Disclosed, and the client’s consent taken, before any service or fee
Name and number
On each social handle and at the start of every market post
AI
Clients told how far research uses it, the analyst answering for its output
Publisher tracks each recommendation live and sends its record to PaRRVA
Your desk publishes on Publisher, global stocks included, and Audit Trail logs each change and client message as it happens.
Advisory marketplaces on Publisher bring analysts to brokers’ clients
A broker verifies and onboards each registered analyst, and promotes their recommendations to its clients by the analyst’s live performance.
What firms ask before they upgrade
Our posts on finfluencers show why registration matters to investors
The finfluencer count shows how few of those who give stock calls are registered, and SEBI’s Jagrook campaign sets registered research apart.
