Monthly Compliance Checklist for Research AnalystsThis research analyst compliance checklist lists the ten checks a SEBI RA should run every month. They include complaint data by the 7th, KYC and consent before fees, fee limits, records and rationale, and grievances within 21 days. A calendar of half-yearly RAASB reports and the annual audit deadlines follows.  Last updated: 21 October 2026 A monthly compliance checklist for a SEBI research analyst covers ten recurring tasks. Publish last month's complaint data on your website by the 7th. Confirm that every new fee-paying client completed KYC and accepted your terms and MITC before you charged. Check fees against SEBI limits, and check that each report and call is signed, dated and backed by a rationale. Keep communication records, resolve grievances within 21 days, and update holdings and trading-window records. Review advertisements, partners and your AI disclosure. Most of these start at onboarding, so a reliable e-KYC and client onboarding flow and a CRM for research analysts do much of the groundwork. Below is the checklist as a table, followed by the half-yearly and annual deadlines that sit around it. It is based on the SEBI (Research Analysts) Regulations, 2014 as amended up to 10 October 2026 and the RA Master Circular of 6 February 2026. It is a practical summary, not legal advice; check the current SEBI rules and RAASB guidance. What should an RA check every month?Run this list in the first week of each month for the month just ended. How do you work through each item?1. Complaint data by the 7thPublish the table even if you received no complaints. The format splits complaints by source (directly from investors, SCORES, others) and shows those pending from last month, received, resolved, pending, pending over three months and average resolution time. It also asks for complaints caused by someone impersonating you. See our guide to SCORES and ODR complaints. 2. KYCMatch last month's payments against completed KYC records. A paying client without KYC is a gap you need to close before the next service. Our KYC and KRA onboarding guide covers the steps. 3. Consent before feesSEBI says no service may be given and no fee charged until the client consents to your terms. Check consent dates against first payment dates. See the MITC guide. 4. FeesThe master circular sets the limit at ₹1,51,000 per family per year for individual and HUF clients, excluding statutory charges. RAASB revises it every three years. Read our fee limits guide before setting plan prices. 5. Client registerExport your client list and confirm no field is blank. The register is one of the first things an auditor asks for. Records, research and conduct checks6. Reports and rationaleSample a few calls from the month and check that each has a report or rationale with data and analysis. SEBI's FAQs say a time-stamped chart alone is not enough. Use the research report disclosures checklist. 7. Communication recordsCheck that recordings and message logs for sales and client calls are complete. From 9 November 2026, call recordings with institutional investor clients are no longer mandatory. See record keeping and call recordings. 8. GrievancesList open grievances and their age. Anything close to 21 days needs attention now. 9. Holdings and tradingIndependent and part-time RAs, employed individuals and their associates must not trade in a recommended or followed security from thirty days before to five days after a report. Keep a dated record of your checks. 10. Advertising, partners and AIReview last month's posts and videos against the advertisement code, check new partners against the finfluencer rules, and update your AI-use disclosure if your tools changed. What are the half-yearly and annual deadlines?Some obligations are not monthly but fall due in particular months. Add them to the same calendar. For more detail, see our guides to the annual compliance audit and RAASB filings. What should you keep as evidence?A checklist only helps in an audit if you can show it was done. Each month, save a dated note of the checks, the complaint table you published, a client register export, the sample of reports you reviewed, and any issues with how they were fixed. Keep these with your other records for at least five years, the minimum under Regulation 25(2). Assign an ownerName one person for each task, even if it is you for all ten. For firms, the compliance officer should sign off. Watch for rule changesAdd a monthly look at new SEBI circulars and RAASB notices. The RA Regulations were last amended on 10 October 2026, and a common advertisement code for intermediaries takes effect in early April 2027. Make the monthly checklist easierFinuro keeps the records this checklist depends on in one place. It covers KYC checks with CVL KRA and NDML KRA, MITC and Aadhaar e-sign consent before payment, and bulk download of a month's KYC and e-sign documents. It also keeps recommendations with rationale and delivery logs, an audit trail, GST invoices and business analytics for clients and renewals. Finuro does not file with RAASB and does not give legal advice, but it means the evidence is ready when you need it. Start with Finuro's e-KYC and onboarding and the CRM for research analysts. Related Finuro features
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