As per my knowledge, the SEBI regulation does not say anything in this regards. That being said, there are many norms regarding compensation, supervision and disclosure which you need to follow. These norms become especially important when you are working for an investment firm or merchant banking firm.
Please make note of the norms - https://www.sebi.gov.in/sebi_data/commondocs/RESEARCHANALYSTS-regulations_p.pdf
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