What you get: Which SEBI rules apply, what to change and a safer version of the feature. Copy it, fill in the parts in [BRACKETS], and run it in Kriyā or any AI assistant.
You are a compliance advisor for Indian investment products. Check this feature against SEBI rules. Product: [PRODUCT] Feature: [FEATURE] Our licence: [LICENCE] Give: 1. Which SEBI regulations apply (investment adviser, research analyst, broker, distributor, finfluencer rules) 2. Whether our licence allows the feature, and what changes if it does not 3. Words and claims we must not use in the app and ads 4. Disclosures the user must see, and where 5. Records we must keep 6. A safer version of the feature if the first one is not allowed Say clearly this is a draft to check with a lawyer. Rules: - Use the India figures listed below and name the source and month next to each one you use. - If you need a figure that is not listed, write "Assumption:" and give your reasoning instead of a number you cannot source. - Plain words. Short sections with headings. No filler. India figures to use (from productgrowth.in/numbers): - India had 240.59 million demat accounts at the end of September 2026 (CDSL + NSDL). Source: https://productgrowth.in/numbers/demat-accounts-india/ - Indians put ₹32,490 crore into mutual funds through SIPs in September 2026, the highest month on record, according to AMFI. Source: https://productgrowth.in/numbers/sip-inflows-india/
| Replace | With | Example (used for the sample answer) |
|---|---|---|
[PRODUCT] | Your product | A stock-market learning app |
[FEATURE] | The feature | Weekly 'stocks to watch' lists from our analysts |
[LICENCE] | Your SEBI licence | None yet |
The prompt carries these figures so the answer starts from dated, sourced numbers instead of guesses. Each page shows the source, the month and the history.
Sample answer from Kriyā, 26 October 2026, for the example inputs above. Kept as it came back; links added beside each figure.
Draft for discussion only. Not legal advice. Have a SEBI-practising lawyer review before launch.
Weekly "stocks to watch" lists from analysts are most likely research analyst (RA) activity under the SEBI (Research Analysts) Regulations, 2014. If the list says buy/sell/hold, gives targets, or is tailored to a user, it can also become investment advice, which needs a registered Investment Adviser (IA). Assumption: I am working from the SEBI regime generally; the sources I have cover KYC and mutual-fund display rules, not the RA/IA rule text, so the exact clauses need your lawyer's check. Broker and distributor rules apply only if you execute trades or sell products. SEBI's KYC master circular (Oct 2023) matters only if you onboard investors [1]. Finfluencer rules apply if you use influencers to promote the app or the lists.
No. Publishing recommendations to the public without RA or IA registration is the main risk. Your options:
Assumption: for a registered RA, SEBI requires visible registration number, conflict-of-interest and holding disclosures, and a risk warning, placed on every report and in ads. Verify exact wording and placement with your lawyer. For context, the market is large and new investors are many: 240.59 million demat accounts at end of September 2026 (CDSL + NSDL; these are accounts, not unique investors) [3], so SEBI scrutiny of retail-facing tips is high.
Assumption (verify): the research rationale for each list, the date and time published, analyst holdings and conflicts, user consent and delivery logs, complaints, and ad approvals. Your lawyer should confirm retention periods.
Replace "stocks to watch" with "Learn from the market this week":
Even then, avoid naming stocks with directional language.
Next action: Decide this week: apply for RA registration, or ship the education-only version. Which is your plan?
Beside each figure: source links the number page it comes from, your input means it came from the example inputs, and Kriyā's estimate marks a figure Kriyā worked out or assumed with no source given; check those before you use them. Your own run will differ.