{"id":5975,"date":"2026-05-25T00:20:42","date_gmt":"2026-05-25T00:20:42","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=5975"},"modified":"2026-05-25T00:20:44","modified_gmt":"2026-05-25T00:20:44","slug":"sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/","title":{"rendered":"SEBI Consultation Paper Dated 18\/05\/2026 &#8211; Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0"},"content":{"rendered":"\n<p>The paper proposes relaxation in the requirement for Research Analysts (RAs) to maintain call recordings for interactions with institutional investors. It propose that RAs may be exempted from mandatory maintenance of call recordings for institutional investors while continuing to maintain other interaction records such as emails, SMS records, and legally verifiable communications. It also introduces a definition of \u2018institutional investor\u2019 by linking it to the SEBI ICDR Regulations 2018. The feedback\/comments from stakeholders are invited.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.sebi.gov.in\/reports-and-statistics\/reports\/may-2026\/consultation-paper-on-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients-amendment-to-the-sebi-research-analysts-regulations-2014_101505.html\"><em>(Link: SEBI Consultation Paper Dated 18\/05\/2026)<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The paper proposes relaxation in the requirement for Research Analysts (RAs) to maintain call recordings for interactions with institutional investors. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[95,52],"tags":[],"class_list":["post-5975","post","type-post","status-publish","format-standard","hentry","category-reports-for-public-comments","category-sebi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEBI Consultation Paper Dated 18\/05\/2026 - Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0 - Bhatia Bhola &amp; Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEBI Consultation Paper Dated 18\/05\/2026 - Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0 - Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"og:description\" content=\"The paper proposes relaxation in the requirement for Research Analysts (RAs) to maintain call recordings for interactions with institutional investors. [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-25T00:20:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-25T00:20:44+00:00\" \/>\n<meta name=\"author\" content=\"Yash Bhola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yash Bhola\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/\"},\"author\":{\"name\":\"Yash Bhola\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\"},\"headline\":\"SEBI Consultation Paper Dated 18\/05\/2026 &#8211; Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0\",\"datePublished\":\"2026-05-25T00:20:42+00:00\",\"dateModified\":\"2026-05-25T00:20:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/\"},\"wordCount\":96,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"articleSection\":[\"Reports for Public Comments\",\"SEBI\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/\",\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/\",\"name\":\"SEBI Consultation Paper Dated 18\/05\/2026 - Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0 - Bhatia Bhola &amp; Associates LLP\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/#website\"},\"datePublished\":\"2026-05-25T00:20:42+00:00\",\"dateModified\":\"2026-05-25T00:20:44+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bhatiabhola.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"SEBI Consultation Paper Dated 18\/05\/2026 &#8211; Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bhatiabhola.com\/#website\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"name\":\"Bhatia Bhola & Associates LLP\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bhatiabhola.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/bhatiabhola.com\/#organization\",\"name\":\"Bhatia Bhola & Associates LLP\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"contentUrl\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"width\":1709,\"height\":376,\"caption\":\"Bhatia Bhola & Associates LLP\"},\"image\":{\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\",\"name\":\"Yash Bhola\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"caption\":\"Yash Bhola\"},\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEBI Consultation Paper Dated 18\/05\/2026 - Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0 - Bhatia Bhola &amp; Associates LLP","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/","og_locale":"en_US","og_type":"article","og_title":"SEBI Consultation Paper Dated 18\/05\/2026 - Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0 - Bhatia Bhola &amp; Associates LLP","og_description":"The paper proposes relaxation in the requirement for Research Analysts (RAs) to maintain call recordings for interactions with institutional investors. [&hellip;]","og_url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/","og_site_name":"Bhatia Bhola &amp; Associates LLP","article_published_time":"2026-05-25T00:20:42+00:00","article_modified_time":"2026-05-25T00:20:44+00:00","author":"Yash Bhola","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yash Bhola","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#article","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/"},"author":{"name":"Yash Bhola","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c"},"headline":"SEBI Consultation Paper Dated 18\/05\/2026 &#8211; Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0","datePublished":"2026-05-25T00:20:42+00:00","dateModified":"2026-05-25T00:20:44+00:00","mainEntityOfPage":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/"},"wordCount":96,"commentCount":0,"publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"articleSection":["Reports for Public Comments","SEBI"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/","url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/","name":"SEBI Consultation Paper Dated 18\/05\/2026 - Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0 - Bhatia Bhola &amp; Associates LLP","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/#website"},"datePublished":"2026-05-25T00:20:42+00:00","dateModified":"2026-05-25T00:20:44+00:00","breadcrumb":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/05\/25\/sebi-consultation-paper-dated-18-05-2026-relaxation-in-requirement-of-maintenance-of-call-records-for-institutional-clients\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bhatiabhola.com\/"},{"@type":"ListItem","position":2,"name":"SEBI Consultation Paper Dated 18\/05\/2026 &#8211; Relaxation in requirement of maintenance of Call Records for Institutional Clients\u00a0"}]},{"@type":"WebSite","@id":"https:\/\/bhatiabhola.com\/#website","url":"https:\/\/bhatiabhola.com\/","name":"Bhatia Bhola & Associates LLP","description":"","publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bhatiabhola.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/bhatiabhola.com\/#organization","name":"Bhatia Bhola & Associates LLP","url":"https:\/\/bhatiabhola.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/","url":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","contentUrl":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","width":1709,"height":376,"caption":"Bhatia Bhola & Associates LLP"},"image":{"@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c","name":"Yash Bhola","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","caption":"Yash Bhola"},"url":"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/"}]}},"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/5975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/comments?post=5975"}],"version-history":[{"count":1,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/5975\/revisions"}],"predecessor-version":[{"id":5976,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/5975\/revisions\/5976"}],"wp:attachment":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/media?parent=5975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/categories?post=5975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/tags?post=5975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}