The Association of Registered Research Analysts of India (ARRAI) is committed to upholding the highest standards of ethics, integrity, and professionalism among its members. This Code of Conduct outlines the expectations and responsibilities of all individual and corporate members of ARRAI to maintain trust and compliance with SEBI regulations.
1. Professional Integrity
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Members must act with honesty, fairness, and transparency in all professional interactions.
• Members must not engage in any misleading, manipulative, or fraudulent practices in research reporting or communication.
• Confidentiality must be maintained in all client or investor dealings unless legally obligated to disclose.
2. Compliance with SEBI Regulations
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All members must comply with SEBI’s Research Analyst Regulations and relevant guidelines.
• It is the member’s responsibility to stay updated with regulatory changes and ensure timely compliance.
• Any breach of SEBI regulations must be reported to ARRAI immediately, along with corrective actions taken.
3. Conflict of Interest
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Members must fully disclose any conflicts of interest in their reports, communication, or advisory.
• Personal interest or gain must not override professional judgement or duty towards clients or the investing public.
• Members must avoid recommendations in cases where conflict of interest cannot be resolved ethically.
4. Transparency and Disclosure
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All recommendations must include clear disclosures regarding positions, affiliations, or potential bias.
• Members must not misrepresent research data, company information, or investment risk.
• Reports and content should be fact-based, well-researched, and substantiated with reliable data.
5. Use of ARRAI Branding
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The ARRAI name and logo may only be used by approved members, subject to compliance with branding guidelines.
• Misuse or misrepresentation of association with ARRAI will result in disciplinary action or termination of membership.
• Members may not use the ARRAI logo in a misleading manner or imply endorsement without written approval.
6. Professional Behavior in Public and Online Platforms
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Members must maintain respectful and constructive communication on social media, professional groups, and public forums.
• No member shall post derogatory, defamatory, or inflammatory content that tarnishes ARRAI’s image or other members.
• Online conflicts must be resolved privately and respectfully.
7. Non-Solicitation and Anti-Spam
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Members shall not engage in unsolicited promotional communication or spam to prospective clients or other members.
• Cold-calling or aggressive marketing without consent is discouraged and may result in warnings or expulsion.
8. Member Responsibilities in Groups and Events
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Members participating in ARRAI’s WhatsApp groups or official events must behave professionally and follow group rules.
• No promotion, self-branding, or sale of third-party services is allowed in ARRAI communication channels without prior consent.
• Any member found disrupting harmony in official groups may face suspension from discussions.
9. Disciplinary Action
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Any violation of the Code of Conduct may result in written warnings, suspension, or cancellation of membership.
• ARRAI reserves the right to investigate reported breaches confidentially and impartially.
• In serious cases, ARRAI may notify SEBI or take legal recourse against the member.
10. Acknowledgement and Acceptance
By becoming a member of ARRAI, you agree to abide by this Code of Conduct in letter and spirit. Your continued membership signifies your commitment to ethical conduct, compliance, and professional responsibility.
Contact Us
For questions or reporting violations of this Code, please contact:
Email: [email protected]
Website: https://arrai.org.in
