How do I check if a research analyst's SEBI registration is still valid?
A registration number on a website or a message is a claim. SEBI's own list and SEBI's orders are where you confirm it is still in force today.
Published 13 November 2026 · Potoos Research Services
The short answer. Search the name or the registration number (it starts with INH) on SEBI's list of registered research analysts. The list shows who is registered as on the date printed above it. If the name or number is not there, treat the registration as not in force and do not pay. Then search SEBI's orders page for the same name, because SEBI cancels registrations through formal orders and publishes its orders there.
How long a registration lasts
A SEBI research analyst registration has no fixed end date. Regulation 10 of the SEBI (Research Analysts) Regulations, 2014 says the certificate is valid until SEBI suspends or cancels it. SEBI is the Securities and Exchange Board of India, the market regulator.
There is one condition. SEBI's FAQ says there is no renewal, but the registration stays valid only if the analyst pays SEBI's fee every five years. So a number that was genuine a few years ago may not be in force today.
What SEBI's list shows
SEBI's list of registered research analysts lets you search by name, registration number, contact person, email or location. On 12 November 2026 the page said "Registered intermediaries as on date Nov 12, 2026" and held 2,385 records. Each entry shows the name, the registration number, the address and a validity line, such as "Mar 06, 2025 - Perpetual". Perpetual means the registration has no end date of its own.
SEBI's Investor Charter for research analysts asks you to do two things here: make sure the analyst has a valid registration certificate, and check the SEBI registration number on this list. Match the full name as well as the number. A real number used with a different name is a warning sign.
Why a registration can stop being valid
SEBI cancels registrations through formal orders. On 23 September 2026, SEBI cancelled the registrations of 12 research analysts who had not paid the five-yearly fee. An earlier order on 20 August 2026 did the same for 25 research analysts. Both orders were passed in summary proceedings under Regulation 30A of the SEBI (Intermediaries) Regulations, 2008, where the analyst gets a written notice and 21 days to reply.
The September order gives its reason in plain words: the cancellation is meant "to prevent the misuse of their certificates of registration with SEBI, which are no longer in force, on unaware investors." That is why checking the number once, years ago, is not enough.
What SEBI's rules say happens to clients
SEBI's master circular sets the minimum terms every analyst must give clients. They say the analyst may stop the service if SEBI suspends or cancels its registration. If the suspension lasts more than 60 days, or the registration is cancelled, the analyst must refund the fees on a pro rata basis (in proportion to time) from the date the action takes effect to the end of your subscription.
The September order also says the analysts stay liable for what they did while registered. They must still arrange grievance redressal, keep records, and transfer clients' records, funds or securities. Separately, SEBI's master circular says a suspended analyst may not advertise during the suspension.
How to check this yourself
- Ask the service for its registered name and its SEBI registration number (INH followed by digits).
- Open SEBI's research analyst list and search the number. Check the name, the address and the validity line.
- Open SEBI's orders page and search the name. Read any order that names the analyst. Note its date and what it directs.
- Check the BSE enlistment number too. BSE is the body that supervises research analysts for SEBI. How to check a BSE enlistment number.
- If someone uses a number that is not on the list, or uses a real number with another name, report it.
Sources
- SEBI order under Regulation 30A of the SEBI (Intermediaries) Regulations, 2008, cancelling 12 research analyst registrations. 23 September 2026. Paragraphs 2 and 3 (page 2), the five-yearly fee; paragraphs 5 to 6 (pages 3 to 4), notice and 21 days to reply; paragraph 13 (page 7), cancellation; paragraphs 14 to 16 (page 8), purpose and continuing duties.
- SEBI order under Regulation 30A cancelling 25 research analyst registrations. 20 August 2026. Paragraphs 1 and 2 (page 2), number of noticees and the five-yearly fee; date on the last page.
- SEBI (Research Analysts) Regulations, 2014, as amended up to 10 October 2026. Regulation 10 (page 12), period of validity of the certificate.
- SEBI Master Circular for Research Analysts. 6 February 2026. Paragraph 11.1(d)(ii) (page 36), no advertisement while suspended; Annexure B, clause 8 (pages 58 to 59), suspension, cancellation and refund; Annexure D, section F, do's ii and iii (page 71), check the registration; Annexure I, FAQ 24 (page 92), validity and the five-yearly fee.
- SEBI list of registered research analysts. Note above the results, "Registered intermediaries as on date Nov 12, 2026", record count and the validity line on each entry.
- SEBI orders page. Enforcement, Orders, with search by title, keywords or entity name.
Sources checked on 12 November 2026. Information cutoff: 12 November 2026, 20:30 IST
Common questions
Does a research analyst registration expire?
No fixed expiry. It stays valid until SEBI suspends or cancels it, as long as the analyst pays SEBI's fee every five years.
What does "Perpetual" mean on SEBI's list?
It means the registration has no end date of its own. It can still be suspended or cancelled by a SEBI order.
The number is real but the name is different. What then?
Treat it as a warning sign. A registration belongs to the name shown on SEBI's list. Do not pay, and report it.
If SEBI cancels my analyst's registration, what about fees I paid?
SEBI's minimum terms say the analyst must refund fees pro rata for the rest of your subscription if the registration is cancelled or suspended for more than 60 days.
Potoos Research, SEBI-registered Research Analyst. Registration number INH000027380. SEBI is the Securities and Exchange Board of India.