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NISM Certifications · NISM-Series-XV: Research Analyst · Legal and Regulatory Environment (NISM XV)

Under the SEBI (Research Analysts) Regulations, 2014, how long must a research analyst generally maintain records of research reports, recommendations and client communication?

A research analyst must maintain records of research reports, recommendations, rationale and related communication for a minimum of five years under the SEBI (Research Analysts) Regulations, 2014. Shorter periods such as one or three years do not meet the requirement.

  1. AOne year
  2. BThree years
  3. CFive yearsCorrect
  4. DTen years

Explanation

The regulations require research analysts to maintain records, such as research reports, recommendations and the rationale for them, for a minimum period of five years. One-year and three-year periods are shorter than required. Ten years is longer than the prescribed minimum.

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