Can I be registered as both an Investment Adviser and a Research Analyst?
In force
Yes, dual registration as both an IA and RA is permitted for individuals or partnership firms, but you must comply with both sets of regulations and reporting requirements separately, and give an undertaking to maintain an arm's-length relationship between your advisory and research services — they can't blur into each other for the same client.
What SEBI says, word for word
Guidelines for RAs/IAs summary“IAs, who are individuals or partnership firms, registered under the SEBI (Investment Advisers) Regulations, 2014, must comply with all rules, regulations, and reporting requirements under both the IA Regulations and the RA Regulations... shall provide an undertaking to maintain an arm's-length relationship between their investment advisory services and research services.”Source: SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2025/004, dated January 8, 2025 Open document ↗
More on Registration & Deposit
- What deposit do I need to maintain with RAASB?
- What qualification and NISM certification do I need?
- Do all my employees who work as analysts need their own SEBI registration?
- What are the SEBI registration and renewal fees?
- What happens to my registration if I die, sell the practice, or change its structure?
- How do I surrender my registration, and what survives it?
- If I hire sales or support staff, which NISM exam do they need?
- If my address, email or circumstances change, must I tell SEBI?