SEBI’s New Proposals for Ease of Doing Business (EoDB) – Big Relief for Investment Advisers, & Research Analysts 

SEBI has recently approved major changes to the Investment Adviser (IA) Regulations, 2013 and Research Analyst (RA) Regulations, 2014. 

These amendments are aimed at simplifying compliance, reducing unnecessary paperwork, and encouraging more professionals to join the advisory and research field.

At Sheetal Kunder Academy, we strongly believe that these changes will not only open new doors for aspiring professionals but also make the process of becoming a SEBI registered
Research Analyst or Investment Adviser much smoother. And for anyone preparing for the NISM Research Analyst Exam, this is the perfect time to take the leap.


Key Changes Proposed by SEBI 

1. Past Performance Can Be Shared (One-to-One) 

 Investment Advisers and Research Analysts can now share past performance data with prospective or existing clients. 

 The data must be in a SEBI-approved format and certified by a CA or CMA. 

 This facility is available for two years, until SEBI sets up the Past Risk and Return Verification Agency (PaRRVA). 

Why this matters? – It builds trust and transparency between advisers/analysts and clients. 

2. Second Opinion Allowed for IAs 

 Investment Advisers can now provide second opinion on assets that are already distributed (like mutual funds bought via distributors). 

 Advisers can charge an Asset Under Advice (AUA) based fee, up to 2.5% per annum. 

 Clients must be told clearly about dual charges (advisory fee + distributor commission). 

 Annual client consent is required. 

Why this matters? – It creates more opportunities for advisers without conflict of interest.

3. Corporatization Timeline Extended 

 Individual IAs who cross ₹3 crore fee threshold earlier had to immediately corporatize. 

 Now, they have more time to transition, and can even add new clients during this period. 

Why this matters? – Small individual IAs get breathing space to grow before turning into a corporate entity.

4. Education Relaxation 

 Now, graduates from any stream can apply to become IA/RA.  The only condition: they must clear the relevant NISM certifications. Why this matters? – This is a big boost for fresh graduates, career switchers, and finance enthusiasts.

5. Address Proof No Longer Needed 

 Applicants only need to disclose their address and provide ID proof. 

 No more paperwork for address verification. 

Why this matters? – Simpler and faster registration process.

6. No Need for CIBIL Report, Net Worth Statements & Infrastructure Details 

 SEBI will check CIBIL score directly. 

 Applicants only need to give basic declarations. 

 No need to submit net worth certificates or office infrastructure details at registration stage. 

Why this matters? – Huge ease of entry for aspiring professionals. 

Why These Changes Are Important

SEBI is sending a strong signal – it wants to encourage more qualified professionals to enter the investment advisory and research space. With reduced compliance hurdles, it is now easier than ever for talented individuals to register as Research Analysts or Investment Advisers. For students and professionals, this is the right time to prepare for NISM exams and build a strong career in capital markets.

Role of Sheetal Kunder Academy 

At Sheetal Kunder Academy, we specialize in NISM Certification Training – especially NISM Series XV: Research Analyst Exam. 

Here’s how we help you succeed: 

 Simplified Concepts – We teach complex SEBI regulations and finance concepts in easy-to-understand language. 

 Latest Updates – Our training material is updated with SEBI’s latest circulars and regulations. 

 Exam-Focused Approach – Practice questions, mock tests, and strategies to clear exams in first attempt. 

 Expert Guidance – talk to your trainer and get the doubts solved on daily basis between 5 to 6 in the evening 

SEBI’s new proposals for Ease of Doing Business (EoDB) will transform the IA/RA profession. If you are planning to start your journey as a Research Analyst, this is the best time to get certified.

Join Sheetal Kunder Academy today and take the first step towards becoming a SEBI Registered Research Analyst.