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Sebi issues draft norms to regulate analysts

To foster objectivity and transparency in security research, and provide investors…

To foster objectivity and transparency in security research, and provide investors with more reliable information for their investment decisions, Sebi on Friday circulated a concept paper, seeking public comments to review the proposed regulations of research analysts.

Public comments on the proposed regulations may be submitted on or before December 21, Sebi said in its notification. Sebi has proposed to register and regulate research analysts, saying a regulatory framework was required to ensure impartial report, address conflict of interest, improve governance standards, and minimize market malpractices.

Under the proposed framework, Sebi intends to register and regulate independent research analysts, intermediaries that employ research analysts and issues research reports, and research analysts giving recommendations in the public media. Further, it stated that any entity incorporated outside India, willing to provide research services with respect to Indian companies, has to set up a subsidiary in India and make an application for registration through that subsidiary.

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First published on: 30-11-2013 at 03:46 IST
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