Regulatory Alerts2023-06-15
SEBI Master Circular for Research Analysts
The Securities and Exchange Board of India issued this Master Circular to consolidate all existing regulatory directions for Research Analysts into a single document, rescinding previous circulars while preserving past legal liabilities. The circular mandates specific procedural guidelines for proxy advisors, including annual policy reviews and conflict of interest disclosures, and establishes grievance resolution mechanisms through the SCORES platform. Additionally, it outlines requirements for technology security regarding SaaS solutions, procedures for seeking prior approval for changes in control, and strict advertising codes that must be followed in all communications.
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