SEBI proposes easing analyst recording rules
Analysis based on 7 articles · First reported May 18, 2026 · Last updated May 19, 2026
The proposed regulatory changes by the India — Securities and Exchange Board of India are expected to reduce compliance burdens and operational costs for research analysts, potentially leading to more efficient market operations. This could positively impact the financial services industry by streamlining processes for firms dealing with institutional investors.
The India — Securities and Exchange Board of India (SEBI) has proposed easing compliance requirements for research analysts by relaxing the mandatory call recording rules for interactions with institutional clients. This move, outlined in a consultation paper, aims to reduce the compliance burden and improve the ease of doing business for research analysts and entities. While call recordings will no longer be mandatory for institutional investors, other communication records like emails and SMS messages must still be preserved. The requirement to maintain all records, including call recordings, will continue for retail clients. The proposal follows representations from market participants and the Industry Standards Forum for Research Analysts, which argued that institutional investors are sophisticated entities capable of independent evaluation. SEBI has invited public comments on the proposal until June 8, 2026, and plans to amend the SEBI (Research Analysts) Regulations, 2014, and define 'institutional investor' based on existing regulations.
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