CAs' Body Urges SEBI for Clarity on Research Analyst Registration Issues

• Bombay Chartered Accountants’ Society (BCAS) submitted a representation to SEBI highlighting regulatory and procedural issues in Research Analyst (RA) registration.
• BCAS raised concerns about the absence of a structured migration mechanism for individuals transitioning to corporate/LLP RA structures, unlike Investment Advisers.
• The society sought clarification on restrictions regarding the 'other employment' of Principal Officers in non-individual RA entities, arguing 'solely' refers to RA entity activities.
• BCAS highlighted delays in processing RA applications after administrative functions were delegated to BSE, requesting streamlining of the two-stage examination process.
• The representation also sought clarity on investor training using live market data, algorithmic trading strategies, and eligibility for Authorised Persons and AMFI-registered distributors.