When you receive stock tips on Telegram. Or see recommendations on social media.
Do you check if the advisor is real?
SEBI registration seems like a safety badge. But is it truly reliable? Let’s dig deep into what SEBI registration actually means for Indian investors and how to check SEBI-registered Research Analyst.
Understanding SEBI Research Analyst Registration
SEBI registration isn’t just a certificate. It’s a regulatory framework.
According to the SEBI (Research Analysts) Regulations, 2014, anyone providing research recommendations must register. This includes buy, sell, or hold advice on securities.
As per official SEBI data from December 2025, there are approximately 1,787 registered research analysts in India. This number seems small, right?
That’s because SEBI’s vetting process is strict. However, registration alone doesn’t guarantee quality.
How to Verify If Registration Is Genuine?
Can a research analyst handle an account in India? Don’t just believe someone’s claim. Verify yourself.
- Ask for Registration Number – Every registered analyst has a unique number starting with “INH”.
- Visit Official SEBI Website
- Search the Database – You can search by name, registration number, or location.
- Check Status – Ensure the status shows “Active” or “Perpetual”. Check validity dates.
According to BSE’s official verification portal, you can also cross-check on their website.
Never trust screenshots of certificates. They can be easily forged.
What Is the Role of a Research Analyst?
Before understanding regulations, let’s clarify what research analysts actually do. What’s their legal scope? Can a Research Analyst Share Profit in India?
According to SEBI (Research Analysts) Regulations, 2014, Section 2(1)(o), a research analyst means “any person who prepares or publishes research reports for distribution to clients or public”.
They are allowed to:
- Provide Research Recommendations – Can give buy, sell, or hold advice on stocks, mutual funds, derivatives, and other securities.
- Publishing Research Reports – Can create detailed analysis reports. These include fundamental analysis, technical analysis, and market commentary.
- Sector and Stock Analysis – Can analyze industries, companies, and economic trends. Can compare different investment options.
- Educational Content – Can conduct webinars, seminars, and training sessions. Can publish educational material about markets.
- General Market Commentary – Can share views on market trends. Can discuss macroeconomic factors affecting investments.
However, they are not allowed to:
- Handle Client’s Account – They only advise. They cannot take your money for investment purposes. They don’t have authority to buy or sell on your behalf. That requires a separate broker license.
- Provide Guaranteed Profit – Legally prohibited from promising assured profits or capital protection.
- Manage Portfolio – Cannot directly manage your investment portfolio. That requires a PMS license.
- Offer Tax Advice – Unless separately qualified, cannot provide tax planning services.
According to SEBI guidelines, research analysts “shall not undertake portfolio management or advisory services unless separately registered”.
Their role is purely advisory and research-based. They provide information. You make decisions.
Research Analyst Common Red Flags
Smart investors watch for warning signs. Here are the biggest ones.
1. Promise of Guaranteed Return
If any analyst promises guaranteed profits. Walk away immediately.
According to SEBI’s Investor Charter for Research Analysts: “Do not fall prey to luring advertisements promising assured or guaranteed returns.”
Real market analysis involves risk assessment. Not guarantees.
2. Pressure Tactics and Limited Time Offers
“Join today, discount ends tonight!” – Sound familiar?
SEBI explicitly warns investors: “Do not get attracted to limited period discounts or other incentives, gifts, etc. offered by Research Analysts”.
Legitimate analysts don’t need pressure tactics. Their research speaks for itself.
3. Account Handling
Critical Warning: Never transfer investment funds to research analysts.
According to SEBI guidelines: “Do not provide funds for investment to the Research Analyst”.
Research analysts only provide recommendations. They don’t handle your money. If someone asks for funds, it’s fraud.
How To Complaint Against a Research Analyst?
When things go wrong, you need recourse. SEBI provides grievance mechanisms.
1. Internal Resolution First
According to SEBI regulations, you must first approach the analyst directly. They have 30 days to resolve your complaint.
Document everything:
- Service agreements
- Recommendations received
- Communication records
- Payment receipts
2. File a Complaint in SCORES
If internal resolution fails, escalate to SCORES (SEBI Complaints Redress System).
How to File:
- Register as investor (requires PAN, contact details)
- Lodge complaint with complete documentation
- Track complaint status online
You can also use the SCORES mobile app (available on Google Play and Apple App Store).
Need Help?
Are you facing issues with a research analyst? Whether registered or unregistered, if you’ve mis-sold services or suffered losses due to fraudulent advice, you need proper guidance.
Register your complaint with us. We help investors navigate the SEBI complaint process and assist in documentation. We guide you through proper channels.
Don’t suffer in silence. Get the help you deserve.
Contact us today to register your grievance and take action.
Conclusion
SEBI registration is important but not sufficient. It’s a starting point, not an endpoint.
The regulatory framework exists to protect investors. However, regulations can’t eliminate all risks. They can’t guarantee individual analyst quality.
Your best protection? Knowledge and vigilance.
Verify credentials independently. Understand what you’re buying. Document everything. Be skeptical of extraordinary claims.
Registered analysts can provide valuable insights. But you must choose wisely. The responsibility ultimately rests with you.
Remember: In investing, if something sounds too good to be true, it probably is. Registration certificate or not.
