AlphaQuark Blog: Insights for SEBI Research Analysts & RIAs

Expert guides, SEBI compliance updates, and business growth strategies for Research Analysts and RIAs in India.

Running a compliant paid Telegram channel as a SEBI-registered Research Analyst - How a SEBI-registered RA runs a compliant paid Telegram channel: disclosures, KYC and MITC before access, records, and removing expired members.
SEBI RA registration cost 2026: SEBI and RAASB fees, deposit, NISM and total budget - SEBI RA registration cost in 2026: SEBI and RAASB fees, deposit slabs by client count, NISM exam fee and a total budget for individuals and companies.
SEBI RA compliance calendar 2026–27: monthly, half-yearly and annual deadlines - Every SEBI Research Analyst deadline for 2026–27: complaint data by the 7th, half-yearly reports, deposit, audit by 30 Sept, filing by 31 Oct.
Monthly complaint data for Research Analysts: the Annexure E format and a free template - The monthly complaint data format SEBI RAs must publish by the 7th: Annexure E tables explained, a worked example and a copy-paste HTML template.
How to get your first 100 subscribers as a new SEBI RA - A step-by-step plan for new SEBI Research Analysts to win their first 100 subscribers: website, research, email, webinars and sign-up, within ad rules.
How to collect subscription payments as a SEBI Research Analyst - How SEBI RAs collect fees: KYC and MITC before payment, the ₹1.51 lakh cap, one-year advance limit, @valid UPI, gateways, GST invoices and refunds.
CeFCoM explained: SEBI's centralised fee collection mechanism for Research Analysts - What CeFCoM is, whether it is mandatory for SEBI RAs, how the BSE framework works, payment modes, phases, and what your terms must say about it.
Sub-Broker vs MFD vs RIA vs Research Analyst (2026 Guide) - Sub broker vs MFD vs RIA vs Research Analyst compared on scope, registration, revenue and scalability — and which license actually makes money in 2026.
NSE Empanelled Algo Providers List (Oct 2026) and How to Get Empanelled - The NSE list of empanelled algo providers as of 16 October 2026, where NSE and BSE publish it, and the steps, rules and tech bar to get empanelled.
Is the Sub-Broker Business Profitable in 2026? An Honest Look - Zero-brokerage discount brokers squeezed the pure commission-sharing sub-broker. Here's how Authorized Persons move up the value chain and stay profitable in 2026.
How to Become a smallcase Publisher (Manager) in 2026, Plus the White-Label Alternative - How to become a smallcase publisher (manager) in 2026: SEBI eligibility, application steps, fees and revenue model, and how a white-label platform compares.
How to Get Clients as a Sub-Broker: A 2026 Growth Playbook - A modern playbook for Authorized Persons and sub-brokers to get clients beyond referrals and flyers: niche positioning, digital presence, content, and differentiated products.
Can I Sell Trading Strategies After SEBI’s April 2026 Rules? - A plain guide for algo sellers, Telegram operators and sub-brokers: what SEBI’s retail algo rules changed, which models are risky, and the legal routes.
What Is PaRRVA? Full Form, SEBI Rules and Deadlines for Research Analysts (2026) - PaRRVA full form, who runs it, the 3 September 2026 enrolment deadline, and what research analysts may say about past performance under SEBI rules.
SEBI Retail Algo Trading Rules 2026: What Changed and What to Do Now - SEBI’s retail algo framework applies to all brokers since 1 April 2026: the rules, the timeline, white-box vs black-box algos, and what RAs and APs do now.
SEBI Master Circular for Research Analysts (2026): What Changed and What You Must Do - SEBI's 6 Feb 2026 Master Circular for Research Analysts explained: fee cap, one-year advance fee, deposit slabs, MITC, audit, reporting and later changes.
How to Verify a SEBI Research Analyst Before You Pay (2026 Checklist) - Before paying any stock advisor, run this 2026 checklist: SEBI RA registration lookup, PaRRVA-verified performance, fee-cap red flags and the warning signs of an unregistered finfluencer.
From Finfluencer to SEBI-Registered Research Analyst: The 2026 Compliance Path - The unregulated stock-tips era is closing. A practical 2026 roadmap for finfluencers to go legit — SEBI RA registration, the Specified Digital Platform regime, RAASB and PaRRVA performance verification.
How to Backtest a Stock Strategy in India: NSE Guide and Common Pitfalls - Backtest a stock strategy on NSE data: set rules, test a whole NIFTY universe, avoid lookahead and survivorship bias, add Indian costs, test out of sample.
What is a Model Portfolio? Complete Guide for Indian Investors - Learn what a model portfolio is, how it works in India, and why SEBI-registered advisors use it to deliver consistent returns to investors.
SEBI Model Portfolio Regulations 2025: Framework for Research Analysts - Complete guide to SEBI's model portfolio framework for Research Analysts. Learn about compliance requirements, benchmarking mandates, disclosure obligations, and the June 30, 2025 deadline.
SEBI Digital Accessibility Requirements 2025: Complete Compliance Guide for RAs & RIAs - SEBI mandates digital accessibility for all regulated entities including Investment Advisers and Research Analysts. Learn about WCAG 2.1 compliance, IS 17802 standards, audit requirements, and March 2026 deadline.
RA vs RIA: Key Differences, Registration and Which SEBI License You Need - RA vs RIA side by side: what each SEBI licence lets you do, registration requirements, how you can charge, compliance load and which fits your practice.
How to Become a SEBI Research Analyst in 2026: Licence, Costs, Timeline and the Software You Need - RA licence 2026: eligibility, NISM Series XV, applying via BSE RAASB, SEBI fees, deposit slabs, timeline and the setup you need before your first client.
After SEBI RA Registration: 30-Day Setup Checklist (2026) - Just got your SEBI RA registration? A 30-day checklist: RAASB deposit, MITC and KYC, website, payments, Telegram delivery, records and complaints.
SEBI Fee Rules for Research Analysts: What an RA May Charge (₹1.51 Lakh Cap) - What a SEBI research analyst may charge: ₹1,51,000 per family cap, advance fees up to one year, refunds, no cash, CeFCoM, GST, and how to price your plans.
Client Onboarding Best Practices for Research Analysts: SEBI-Compliant Process - Master the client onboarding process for your RA practice. KYC requirements, risk profiling, agreement signing, and digital onboarding workflows explained.
Model Portfolio Performance Tracking: Metrics, Benchmarks and Reporting for RAs - Model portfolio metrics for SEBI RAs: CAGR, TWRR vs XIRR, Sharpe, drawdown, attribution, NIFTY 50 vs NIFTY 500 benchmark choice and verified reporting.
Investor Charter for Research Analysts: What SEBI Requires and Where to Publish It - SEBI investor charter for research analysts: its six parts, where to publish it, 21-day grievances, SCORES 2.0, SMART ODR, complaint data.
SEBI Compliance Audit for Research Analysts: Checklist, Due Date and Who Can Audit - SEBI compliance audit for research analysts: due by 30 Sept, file by 31 Oct, who can audit (ICAI, ICSI, ICMAI), a full checklist and inspection prep.
SEBI Social Media Rules for Research Analysts and Advisers: What You Can Post - What SEBI-registered research analysts and advisers can post on LinkedIn, X, YouTube, Telegram: ad code, disclaimers, PaRRVA claims and finfluencer limits.
Conflict of Interest Management for Research Analysts: SEBI Requirements - Understand and manage conflicts of interest as a Research Analyst. SEBI disclosure requirements, prohibited activities, and best practices for ethical practice.
MITC for Research Analysts: What to Include, and E-Sign Before Payment - What SEBI's MITC and minimum terms for research analysts must include, why consent comes before any fee, and how to take Aadhaar e-sign before payment.
Scaling Your RA Practice: From 10 to 1,000 Clients Without Losing Quality - How SEBI research analysts grow from 10 to 1,000 clients: four growth stages, deposit by client count, compliant service tiers and hiring a research team.
Investment Research Report Writing: SEBI Requirements, Template and Disclosures - What a SEBI research analyst's report must contain: Regulation 19 and 20 disclosures, ratings, records, a practical template and fair distribution rules.
KYC Before Payment for Research Analysts: KRA Checks, MITC E-Sign, Then Fees - How SEBI research analysts onboard clients: KYC through a KRA, MITC consent by Aadhaar e-sign, then payment. Who needs KYC, records and audit checks.
Client Communication for SEBI Research Analysts: Telegram, WhatsApp and What to Say - How SEBI-registered research analysts should deliver calls on Telegram, WhatsApp and app, what to say when markets fall, reviews and complaint rules.
NISM Series XV Exam (RA Certificate): Syllabus, Pass Mark, Fee and Renewal - The RA exam explained: NISM Series XV fee, pattern, 60% pass mark, 15-chapter syllabus with weightage, who needs it, and renewal through Series XV-B.
How to Build a Model Portfolio: Step-by-Step Guide for Research Analysts - Build your first model portfolio as a SEBI RA: philosophy, universe, stock selection, sizing, benchmark, risk rules, rebalancing and quarterly review.
Sector Analysis Framework for Research Analysts - Complete guide to sector analysis framework for research analysts. Expert insights and actionable strategies for Research Analysts in India.
Personal Branding for SEBI Research Analysts: Build Trust Within the Rules - How SEBI-registered research analysts build a personal brand and client trust within the advertisement code: content, channels, transparency and PaRRVA.
SEBI RA Reporting Guide: Annual and Half-Yearly Filings for Research Analysts - What SEBI research analysts file and when: half-yearly report to RAASB, SaaS undertaking, monthly complaint data, deposit review and annual items.
SEBI SCORES Complaints: A Research Analyst's Guide to Handling Them - How SEBI research analysts handle SCORES complaints: 21-day timeline, RAASB review, SMART ODR, complaint register and monthly complaint data (Annexure E).
Tax Implications for Research Analyst Businesses - A practitioner's overview of tax for a research analyst business in India: GST at 18%, income tax slabs, TDS under 194J, advance tax and books of accounts.