This is in continuation to the Exchange notice no. 20250627-46 dated June 27, 2025, regarding “Extension in timeline for compliance with certain regulatory provisions by RAs”.
SEBI has further granted clarification and extension in timeline w.r.t point no. i of the above mentioned circular as below:
- RA/research entity shall be required to disclose and take consent of the clients on terms and conditions of research services on or before the date of renewal of subscription/agreement of research services or on or before the due date of charging/collection of fees from the client for continuation of the existing subscription/agreement, whichever is earlier.
- For existing non-fee paying clients/other clients, where RA/research entity does not have any agreement/subscription arrangement for providing the research services, RA/research entity shall disclose and take consent on terms and conditions of research services latest by September 30, 2025.
Research Analysts are advised to take a note of the same and ensure compliance.
For and on behalf of BSE Ltd.
Meghana Kulkarni
Deputy Vice President Membership Operations & Membership Compliance
Neeky Subramaniam
Manager Membership Operations & Membership Compliance
