Some equity firms shut shops after Sebi's new norms on research analysts

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Some equity firms shut shops after Sebi's new norms on research analysts - Business Standard

Quick Summary:

The new guidelines necessitate research firms to comply with stricter measures such as maintaining records of client interactions, conducting compliance audits, and following Know-Your-Customer (KYC) procedures and these requirements have led to increased operational costs for smaller entities.

Markets regulator Sebi's new guidelines on research analysts (RAs) are forcing several equity research firms publicly announcing plans to shut down their shops due to heightened compliance and operational requirements.

The Securities and Exchange Board of India (Sebi), on January 8, came out with guidelines for Research Analysts in a bid to curb fraudulent stock recommendations and illegal practices in the securities market.