On 25 October 2024, IND SEBI issued a circular on the periodic reporting format for research analysts and proxy advisers as per the Research analysts regulations, 2014.

• Recognized BSE Limited as Research analyst administration and supervisory body.
• RAs and PAs must submit comprehensive reports covering organizational structure and compliance framework and the details of all social media platforms used for business.
• In addition, shareholding patterns for substantial shareholdings of 10% or more, NISM certification details for all qualified analysts, and ad tracking and investor charter compliance.
• In addition to above, relevant data on branch operations and employee information.
• Reports must also include detailed, specified complaint statistics, client demographics.
• PAs have additional reporting on certain metrics including voting recommendations.
• The first reporting period covers half-year ending 31 March 2025, submit by 30 April 2025.