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

Which of the following best describes the requirement for a research analyst in a public appearance, such as a TV interview, under the SEBI (Research Analysts) Regulations, 2014?

In a public appearance, the analyst must make the required disclosures of any financial interest or conflict in the subject company. Being unpaid or the stock's index membership gives no exemption, and guaranteeing returns is prohibited as misleading.

  1. AThe analyst must make the required disclosures of interest and conflicts at the time of the appearanceCorrect
  2. BThe analyst is exempt from disclosures if the interview is unpaid
  3. CThe analyst may give guaranteed returns to attract viewers
  4. DThe analyst must only disclose if the stock is in the Nifty 50

Explanation

Disclosure obligations apply to public appearances as well as written reports, regardless of payment or index membership. Guaranteeing returns is prohibited as misleading, so only the first option is correct.

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