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

Under the SEBI (Research Analysts) Regulations, 2014, which of the following is the minimum period for which a research analyst must maintain records of research reports and recommendations?

A research analyst must preserve records such as research reports, recommendations and client communications for at least five years. This retention period lets SEBI inspect the analyst's conduct and verify compliance with the Research Analyst Regulations, so shorter periods like one or three years are insufficient.

  1. A1 year
  2. B3 years
  3. C5 yearsCorrect
  4. D10 years

Explanation

The Regulations require research analysts to maintain records, including research reports, recommendations and client communications, for a minimum period of five years. One year and three years are too short, and ten years is longer than required.

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