Do finance creators need SEBI registration to share stock views?

SEBI's research analyst FAQs describe who registers: a person issuing research reports or research analysis on securities that are listed or proposed to be listed on a stock exchange. The practical question for a creator is whether what you publish is a research report. SEBI lists what is excluded.

What SEBI excludes from a research report

• Comments on general market trends.
• Discussions on broad-based indices.
• Commentary on economic, political or market conditions.
• Periodic reports for unit holders of a mutual fund or AIF, or clients of portfolio managers and investment advisers.
• Internal communications.
• Offer documents.
• Statistical summaries of company financial data.
• Technical analyses of demand and supply in a sector or index.

Technical analysis

Technical analysis as a methodology is not exempt. SEBI's exclusion covers a technical analysis of demand and supply in a sector or index. A chart-based view on a named stock sits differently, and we read each creator's format against the FAQ before saying where it lands.

What registration involves

You apply to BSE Limited in Form A, hold NISM Series XV, keep a deposit with a scheduled bank (₹1 lakh for up to 150 clients), carry a conflict of interest policy and follow the trading restrictions in regulation 16. A creator with a day job can apply part-time if the job is unrelated to securities. SEBI's own fees for an individual are ₹2,000 on application and ₹3,000 on registration.

If you create finance content and want to know which side of the line your videos sit on, send us two or three of them. We will read them against SEBI's list and, if registration is the right step, handle the documentation and filing.