Do all my employees who work as analysts need their own SEBI registration?
In force
No. If you're a research entity (a firm/company) employing analysts, the entity holds the SEBI registration certificate — individual employees working as analysts inside it do not need their own separate registration.
Those individual employees must still meet the qualification and certification requirements (Regulation 7) and are bound by the trading restrictions even without personal registration.
An independent research analyst — someone whose only business is research analysis, not employed by any research entity — registers individually, including as a sole proprietor.
What SEBI says, word for word
FAQ Circular, Q2“Individuals employed as research analyst with a research entity are not required to obtain registration certificate from SEBI. The research entity, which employs individuals as research analysts, is required to obtain registration certificate under the RA Regulations.”Source: SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/105, dated July 23, 2025 Open document ↗
More on Registration & Deposit
- What deposit do I need to maintain with RAASB?
- What qualification and NISM certification do I need?
- What are the SEBI registration and renewal fees?
- Can I be registered as both an Investment Adviser and a Research Analyst?
- 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?