Half-yearly report to BSE
Twice a year every registered RA and IA sends the BSE administration body a report on the half-year just ended. It pulls together your bank accounts, social handles, staff certifications, adverts, complaints, clients and fees. We prepare the documentation from your records.
Research Analysts and Investment Advisers, individual or non-individual.
To see when this and your other duties fall due, use the free compliance calendar.
- The report covers the half-years ending 30 September and 31 March and is due within 30 days of each: by 30 October and by 30 April.
- It goes to the BSE administration body (RAASB for RAs, IAASB for IAs) in the format that body specifies.
- For investment advisers the format asks for the social media handles used, the bank accounts that receive fees, the NISM certificates of each person and their validity, the last inspection, the adverts issued in the half-year, whether complaint data has been published, a complaints table with ageing and average resolution time, and client numbers, assets under advice and fees.
- The research analyst report carries the same kind of detail: general details, social handles, bank accounts, complaints, and clients and fees.
- Collect the half-year's figures from your fee records, client list, complaint log and adverts.
- Check them against what your website already shows, so the report and the site agree.
- Fill the report in the BSE format and give it to you with a short note on anything that needs your decision.
- Diarise the next 30 April and 30 October for you.
- Fee receipts or bank statements for the accounts that receive fees.
- Your client list for the half-year and the complaint log, including complaints closed as impersonation.
- Your social media handles and copies of adverts issued in the half-year.
- NISM certificates of you and anyone associated with your research or advice.
Quoted on a call
We scope it against your registration, client count and financial year end, and give you a written price before you pay.
When is the half-yearly report due?
Within 30 days of each half-year end: by 30 October for April to September and by 30 April for October to March.
Does an individual adviser have to file it?
Yes. It applies to every registered Research Analyst and Investment Adviser, individual or not.
Is this the same as the annual compliance audit?
No. The audit is yearly, done by a chartered accountant, company secretary or cost accountant, and due by 30 September. The half-yearly report is a separate filing, twice a year.
Want this taken off your list?
Tell us your registration type and financial year end. We will tell you what we would handle and what we need from you.
Sources: SEBI Master Circular for Research Analysts, 6 February 2026, para 29; SEBI circular SEBI/HO/MIRSD/MIRSD-PoD1/P/CIR/2024/148 of 25 October 2024 (periodic reporting for Research Analysts); SEBI Master Circular for Investment Advisers, 6 February 2026, para 30; SEBI circular of 7 May 2024 (periodic reporting format for Investment Advisers, Annexure I).