What must I disclose when appearing on TV, YouTube, or public media?
In force
Under Regulation 21(1), whenever you (or your directors/employees) make a public appearance or give a recommendation through any public media (TV, radio, internet, print, YouTube, webinars), you must disclose your registration status and any financial interest you hold in the subject company.
'Public media' is defined broadly — radio, television, internet, web, or print media all count.
If a non-RA (e.g. an employee of an IA, credit rating agency, or AMC) makes such a public recommendation, Regulation 21(2) applies the same trading-limitation and compensation-limitation rules to them too, and they must disclose name, registration status, and financial interest at the time of the recommendation.
What SEBI says, word for word
FAQ Circular, Q19“Regulation 21(1) of RA Regulations applies to research analyst or research entity including its directors and employees. They are required to disclose their registration status and details of financial interest in the subject company during public appearance.”Source: SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/105, dated July 23, 2025 Open document ↗
FAQ Circular, Q18“Public media means any media source available to the general public and includes a radio, television, internet, web or print media.”Source: SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/105, dated July 23, 2025 Open document ↗