Securities and Exchange Board of India (SEBI) on December 18, 2016 published SEBI (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2016. Click here to download.
In these Amendment Regulations, SEBI introduced amendment with respect to renewal of certificate of registration for various SEBI registered intermediaries. The list also includes Investment Advisers (IAs) and Research Analysts (RAs).
As per the amended Regulations, the word “renewal” is omitted throughout the SEBI (Investment Advisers) Regulations, 2013 and SEBI (Research Analyst) Regulations, 2014.
The IAs and RAs have been granted permanent registration by SEBI subject to payment of fees. The procedure for renewal and submission of application for renewal of certificate has been done away with.
Now the validity of the registration is “till it is suspended or cancelled by the Board” instead of for 5 years only.
However, IA or RA, who is already registered, has to pay following fees every 5 years from the date of grant of registration “to keep the registration in force”.
The fees should be paid within 3 months before the expiry of the due date.
It is expected that SEBI will request the intermediaries or the professionals to submit a compliance report to keep the registration in force or may conduct audit. IAs and RAs should be prepared for a SEBI inspection.
Here is an article on “How IAs should prepare for audit”. Read more.
Hi just want to know in case of renew after making payment online(payment is also confirmed) do we require to do anything else or it will auto renew.
Hi. If your registration certificate has a validity date, you will have to send the original copy to SEBI’s local / regional office near you and they will share another certificate without the validity date.
thx a ton god bless
Hi, Despite reminders through mails and telephonic conversation to them its now more than a month still not update the end date on there website and login portal also not received my new certificate with no end date to whom to escalate the same
Thx in advance
Hello Madam,
How can I renew certification of Research Analyst?
Do you have any idea about renewal fee? Can you share circular / link of the same. I tried finding out, but could not get it. Thanking You.
Hi Digesh. You have to login to the SI portal, click on renew option and pay the renewal fee online. For individuals and partnership firms, the renewal fee is Rs. 10,000 and for corporates it is Rs. 500,000.
Does CWM from AAFM fulfill the certification requirements for Research Analyst (Not RA)?
If not, then does it counts towards education requirement for RA. I have MTech CS(Data Analytics).
No. It will help you fulfill the certification requirements for investment advisers.
It will not count as education qualification too.
Hi mam,
My application for RA has been approved and I have paid the registration fees. Can you tell me how much time it takes to get the certificate ?
Hi Arunabha, congrats! It should not take more than a week. Hope you have informed the officer handling your application about payment of fees.
Thanks for your informative blog. I am a Registered Analyst. In your posts you write about annual compliance. Do I have to submit quarterly reports? The RA portal shows an option for it.
Hi Wilson, if it is showing on your login portal, you may submit the same. However, there is no communication from SEBI in this regard.
Hi Kruti,
I am already registered as RA ( INH100004739 )
I just want to know
my NISM Certificate validity is 3 year.. but SEBI RA is 5 year
SEBI reg Will expire in 2022
So in between this do I have need to do something or need not to do anything till 2022
Regards,
Neetesh Pathak
https://twitter.com/RA_Neetesh
Mob- 9990969356
Hi Neetesh. You have to renew your NISM certification every 3 years and keep it valid at all times.
Hi Mam, can a SEBI registered Research Analyst issuing calls based on either Technical Analysis or Fundamental Analysis also trade or invest on his or her personal account or his or her family account without violating any norms set by SEBI.
Hi Floyd. You can trade but there are restrictions for trading. The same is covered in Regulation 16 of the RA regulations.
Mam…i am having CFP but i am not graduate but i am having 15 years as agent and amfi can you guide me of any chance to apply for RIA.
Hi Kannan, in my view the minimum qualification requirement is graduation. Where are you based? We can confirm with SEBI’s regional office about your education.
hi,
if i want to register as a mcx advisor then also research analyst certification is required?or for mcx is there any other certification.
Hi Amit, if you are going to provide research calls / recommendations on commodity derivatives, then you need to get registered with SEBI.
Now i got NISM pdf certificate but my MBA final exam in june 2019 before that, can i fill SEBI intermediary application ?
Hi Gaurav, you need to fulfill all the requirements before you apply to SEBI. You can make an application only after you get the MBA degree certificate from your university.
on the basis of research analyst NISM certificate can i do sebi registration for advisory service
now m BE complete and MBA finance in distance education form ISBM university now in last year, then can i register on sebi
please guide me
Hi Gaurav, I did not understand your first question. Pls explain further.
Ok Thanks mam Really I am very lucky that i find you and you solving my all queries one by one .Thanks for your support Whenever i go for registration i will contact you for further process.
Sure!
Hi mam
With experience certificate need salary slip for Investment advisory Registration.
No, not required.
Hi mam
CWM form AAFM India or GFMP form BSE institute is recognised for SEBI registration for license for Research analyst or Investment Advisor
CWM from AAFM will help you fulfill the certification requirements under Reg 7(2). GFMP will not help you fulfill any requirement. You also need to have a post graduate degree or diploma in finance, economic, etc. to fulfill qualification requirements under Reg 7(1).