Section 25 in Securities and Exchange Board of India (Research Analysts) Regulations, 2014
25. Maintenance of records.
(1)Research analyst or research entity shall maintain the following records:(i)research report duly signed and dated;(ii)research recommendation provided;(iii)rationale for arriving at research recommendation;(iv)record of public appearance.(2)All records shall be maintained either in physical or electronic form and preserved for a minimum period of five years:Provided that where records are required to be duly signed and are maintained in electronic form, such records shall be digitally signed.(3)Research analyst or research entity shall conduct annual audit in respect of compliance with these regulations from a member of Institute of Chartered Accountants of India or Institute of Company Secretaries of India.
