New Rule 15A inserted in SEBI Research Analysts Regulations

New Rule 15A inserted in SEBI Research Analysts Regulations

No. SEBI/LAD-NRO/GN/2024/199.—In exercise of the powers conferred by sub-section (1) of section 30
read with clause (b) of sub-section (2) of section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, namely, –

1. These regulations may be called the Securities and Exchange Board of India (Research Analysts) (Second Amendment) Regulations, 2024.
   
2. They shall come into force on the date of their publication in the Official Gazette.
   
3. In the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, after regulation 15, the following new regulation shall be inserted, namely,–
   “Fees.
   15A. Research Analyst shall be entitled to charge fees for providing research services from a client including an accredited investor in the manner as specified by the Board.”

Footnotes:

1. The Securities and Exchange Board of India (Research Analysts) Regulations, 2014, were published in the Gazette of India on September 01, 2014 vide No. SEBI/LAD-NRO/GN/2014-15/07/1414.
   
2. The Securities and Exchange Board of India (Research Analysts) Regulations, 2014 were subsequently amended on, –
   a. 8th December, 2016 by the Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2016 vide notification No. SEBI/LAD-NRO/GN/2016-17/023.
   b. 17th April, 2020 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020 vide notification No. SEBI/LAD-NRO/GN/2020/10.
   c. 16th March, 2021 by the Securities and Exchange Board of India (Research Analysts) (Amendment)
   Regulations, 2021 vide notification No. SEBI/LAD-NRO/GN/2021/09.
   d. August 3, 2021 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment)
   Regulations, 2021 vide notification No. SEBI/LAD-NRO/GN/2021/30.
   e. 17th January 2023, by the Securities and Exchange Board of India (Change in Control in Intermediaries) (Amendment) Regulations, 2023 vide notification No. SEBI/LAD-NRO/GN/2023/115.
   f. February 7, 2023 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2023 vide notification No. SEBI/LAD-NRO/GN/2023/121.
   g. 3rd July 2023 by the Securities and Exchange Board of India (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023 vide notification No. SEBI/LAD–NRO/GN/2023/137.
   h. 17th August 2023 by the Securities and Exchange Board of India (Facilitation of Grievance Redressal Mechanism) (Amendment) Regulations, 2023 vide notification No. SEBI/LAD-NRO/GN/2023/146.
   i. 26th April 2024 by the Securities and Exchange Board of India (Research Analysts) (Amendment)
   Regulations, 2024 vide notification No. SEBI/LAD-NRO/GN/2024/170.

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