Securities And Exchange Board Of India - Subsection
Section 16(4) in Securities and Exchange Board of India (Research Analysts) Regulations, 2014
(4)Independent research analysts, individuals employed as research analysts by research entity or their associate shall not purchase or receive securities of the issuer before the issuer's initial public offering, if the issuer is principally engaged in the same types of business as companies that the research analyst follows or recommends.
