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<h1>Proxy advisers must comply with SEBI regulations on qualifications, capital, and disclosure; clarifications available for inconsistencies.</h1> Regulation 23 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014 mandates that proxy advisers adhere to the provisions of Chapters II to VI. Employees providing proxy advisory services must be graduates and meet certification requirements specified by the Board. Proxy advisers have three years to comply with capital adequacy requirements. They must disclose the extent of research in recommendations, their interaction policies with issuers, and maintain records of voting recommendations for the Board. The Board may provide clarifications or exemptions if inconsistencies arise in applying these regulations to proxy advisers.