Section 21 in Securities and Exchange Board of India (Research Analysts) Regulations, 2014
21. Recommendations in public media.
(1)Research analyst or research entity including its director or employee shall disclose the registration status and details of financial interest in the subject company, if he makes public appearance.(2)If any person including a director or employee of an investment adviser or credit rating agency or asset management company or fund manager, makes public appearance or makes a recommendation or offers an opinion concerning securities or public offers through public media, all the provisions of regulations 16 and 17 shall apply mutatis mutandis to him and he shall disclose his name, registration status and details of financial interest in the subject company at the time of, -(i)making such recommendation or offering such opinion in personal capacity;(ii)responding to queries from audiences or journalists in personal capacity;(iii)communicating the research report or substance of the research report through the public media.
