 "SEBI")
Capital markets regulator Sebi on Tuesday proposed to recognise an entity designated as Research Analyst Administration and Supervisory Body (RAASB), which will be responsible for the administration and supervision of the research analysts.
In its consultation paper, Sebi said that the proposed body should not place any additional financial burden on the research analysts (RAs). Further, the application fee and registration fee as specified under the current RA Regulations has been proposed to be rationalised accordingly.
In addition, it has been suggested to amend the rules to provide that membership of RAASB should be one of the eligibility criteria for consideration of the grant of registration certificate as RA.
The Securities and Exchange Board of India (Sebi) has sought comments from the public on the proposals till September 12.
"Considering the evolving nature of business of RAs, it is proposed that, on similar lines as IAASB, Sebi may recognise a body, designated as Research Analyst Administration and Supervisory Body to administer and supervise RAs and thereby extend the framework for administration and supervision to RAs as in the case of IAs," the consultation paper noted.
Earlier, Sebi granted recognition to an entity designated as an Investment Adviser Administration and Supervisory Body (IAASB) for the administration and supervision of Investment Advisers (IAs).
After seeking the interest of eligible stock exchanges, BSE Administration & Supervision Ltd (BASL), a wholly-owned subsidiary of stock exchange BSE, was granted recognition as IAASB for a period of three years from June 2021. Later, Sebi provided a framework for the administration and supervision of IAs specifying the role and responsibilities of IAASB.
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