In India, giving investment advice or research reports as a business is regulated by SEBI. People and firms who do it must be registered. Two kinds of registration matter most when you see stock tips:
- Investment Adviser (IA): gives personal advice about investing, for a fee. Registration numbers look like INA followed by 9 digits.
- Research Analyst (RA): publishes research reports or recommendations about shares. Registration numbers look like INH followed by 9 digits.
Stockbrokers, mutual fund houses and other market players have their own registrations too.
Why it matters
Registered advisers and analysts have to follow SEBI's rules, for example about telling you their conflicts of interest and not promising guaranteed returns. If something goes wrong, there are official ways to complain. With someone who isn't registered, you have none of that protection.
How to check, step by step
- Look for a registration number in the post, website or profile. Many tip posts don't show one at all.
- Copy the number exactly, for example INA000012345 or INH000012345 (these two are made up).
- Check it in SEBI's public register of intermediaries. Our SEBI check page looks it up in SEBI's register for you.
- Compare the name in the register with the name in the post. Scammers sometimes copy a real adviser's number and name.
- Check the contact details. If the register shows a different phone, email or website, be careful.
What registration does not mean
Being registered means someone is allowed to give advice under SEBI's rules. It does not mean their advice will make money, and it does not mean SEBI approves of any particular tip. And no registered adviser may promise you guaranteed returns.
When no number is shown
Plenty of posts about the stock market are just opinions or news, and they don't need a number. But if a post offers paid tips, a "premium group" or personal recommendations and shows no registration number, that's worth noticing. Our Tip Checker shows this separately: "No SEBI registration number found in this post."