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<h1>New Framework for Stock Exchanges to Supervise Research Analysts and Investment Advisers Effective July 25, 2024.</h1> The circular outlines a framework for the administration and supervision of Research Analysts (RAs) and Investment Advisers (IAs) by recognized stock exchanges, designated as Research Analyst Administration and Supervisory Body (RAASB) and Investment Adviser Administration and Supervisory Body (IAASB). It specifies criteria for stock exchanges to be recognized as RAASB/IAASB, including a minimum net worth and nationwide presence. The framework mandates enlistment of RAs and IAs with RAASB/IAASB and details responsibilities shared with SEBI, such as registration, supervision, and grievance redressal. The framework becomes effective on July 25, 2024, and aims to enhance regulatory efficiency.