// REGULATORY · DOS & DON'TS

Do's & Don'ts While Dealing with a Research Analyst

Last reviewed:October 2025Version:1.0Doc ref:SEBI Master Circular · 21 May 2024

Do's

Always deal with a SEBI-registered Research Analyst.
Ensure that the Research Analyst has a valid registration certificate.
Check for the SEBI registration number. (Refer to the list of all SEBI-registered Research Analysts on the SEBI website.)
Always pay attention to the disclosures made in research reports before investing.
Pay your Research Analyst through banking channels only, and maintain duly signed receipts mentioning the details of your payments. You may pay through the Centralised Fee Collection Mechanism (CeFCoM) of RAASB if the Research Analyst has opted for it (applicable for fee-paying clients only).
Before buying / selling securities or applying in a public offer, check the research recommendation provided by your Research Analyst.
Ask all relevant questions and clear your doubts with your Research Analyst before acting on a recommendation.
Seek clarifications and guidance on research recommendations, especially if they involve complex and high-risk financial products and services.
Always be aware that you have the right to stop availing the services of a Research Analyst as per the agreed terms of service.
Always be aware that you have the right to provide feedback to your Research Analyst on the services received.
Always be aware that you will not be bound by any clause, prescribed by the Research Analyst, that contravenes any regulatory provision.
Inform SEBI about any Research Analyst offering assured or guaranteed returns.

Do not provide funds for investment to the Research Analyst.
Don't fall prey to luring advertisements or market rumours.
Do not get attracted to limited-period discounts or other incentives, gifts, etc., offered by a Research Analyst.
Do not share the login credentials and passwords of your trading, demat or bank accounts with the Research Analyst.