Hi
Can a SEBI RA take the same call in his/her account which they recommend to their clients with a disclosure ?
Or are they not allowed to take that call in the blackout period mentioned under SEBI guidelines regardless of any disclosure ?
a SEBI‑registered Research Analyst (RA) is not permitted to trade in their own account on the same call they issue for clients during the blackout period - even with disclosure!
By own account, does it mean even family or blood relative’s account ?
Under the SEBI (Research Analyst) Regulations, 2014, especially in the Code of Conduct (Schedule III), the RA must not deal in securities that they recommend:
- Directly or indirectly
- On their own behalf or on behalf of immediate relatives
- During the prescribed blackout period
The idea is to block all possible channels of front-running - whether it’s your own PAN or your cousin’s Demat account that you “advise over Sunday lunch.”
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