Description

BSE notice directing Research Analysts to comply with SEBI circular HO/(79)2026-MIRSD-PODMMC requiring disclosure of registered name and registration number on Social Media Platforms (SMPs).

Summary

BSE has issued Notice No. 20260428-47 forwarding SEBI circular No. HO/(79)2026-MIRSD-PODMMC dated February 26, 2026, under the Ease of Doing Investment (EoDI) initiative. The notice requires all Research Analysts registered with SEBI, and their agents, to disclose their registered name and SEBI registration number on their Social Media Platforms (SMPs).

Key Points

  • BSE Membership Compliance Department has forwarded the SEBI circular as an annexure for Research Analysts’ reference.
  • Research Analysts and their agents must display their SEBI-registered name and registration number on all Social Media Platforms they use.
  • The requirement is part of SEBI’s broader EoDI (Ease of Doing Investment) initiative aimed at improving investor transparency.
  • The underlying SEBI circular was issued on February 26, 2026 (Ref: HO/(79)2026-MIRSD-PODMMC).

Regulatory Changes

SEBI has mandated, via circular HO/(79)2026-MIRSD-PODMMC (February 26, 2026), that SEBI-regulated entities and their agents must prominently disclose their registered name and registration number on Social Media Platforms. BSE is now directing its member Research Analysts to take note and act accordingly.

Compliance Requirements

  • Research Analysts registered with SEBI must ensure their registered name and SEBI registration number are disclosed on all their Social Media Platforms.
  • Agents of SEBI-regulated entities are similarly required to make these disclosures.
  • Members must review the full SEBI circular (attached as Annexure) for complete requirements and act in compliance.

Important Dates

  • SEBI Circular Date: February 26, 2026
  • BSE Notice Date: April 28, 2026
  • No separate deadline mentioned in the BSE notice; compliance is expected with immediate effect as per the SEBI circular.

Impact Assessment

This notice primarily affects SEBI-registered Research Analysts and their agents who maintain a presence on Social Media Platforms. The requirement enhances investor protection by enabling the public to verify the credentials of entities providing investment-related content on social media. Non-compliance could attract regulatory action from SEBI or BSE. The operational burden is low — entities need to update their social media profiles/bios to include registration details.

Impact Justification

Compliance directive for Research Analysts to disclose identity credentials on social media; operationally significant for RA community but no market-wide trading or systemic impact.