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

Which of the following is a correct requirement regarding public appearances by a registered research analyst under the SEBI Research Analysts Regulations?

A research analyst must disclose his or her own and associates' financial interest or other conflict of interest in the subject company when making a public appearance. The disclosure is not limited to written reports, large holdings or Sell recommendations.

  1. ADisclose his or her own and associates' financial interest and any conflict of interest in the subject company at the time of the appearanceCorrect
  2. BDisclosure is needed only if the analyst holds more than 10% of the company's shares
  3. CDisclosure is required only in written reports and not at media interviews
  4. DDisclosure is required only when the recommendation is a Sell

Explanation

The regulations require analysts to disclose their holdings, financial interest, and other conflicts of interest in the subject company, including during public appearances such as TV interviews or webinars. The distractors wrongly add a 10% threshold, limit disclosure to written reports, or limit it to Sell calls.

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