My understanding of this SEBI pdf is that it does not apply to most people, posters in forums. I am just a lay person (not a lawyer, advisor etc) so I could be wrong, just an opinion of mine.
As per pdf only below types of people cannot post/comment/advise without registration etc.
These new rules apply to:
(g) "fund manager" includes fund managers of a mutual fund or alternative
investment fund or venture capital fund or portfolio manager;
(h) "independent research analyst" means a person whose only business activity is research analysis or preparation and/or publication of research report;
(j) "investment adviser" means any person registered under Securities and
Exchange Board of India (Investment Advisers) Regulations, 2013;
(k) “limited liability partnership” means a partnership formed and registered
under The Limited Liability Partnership Act, 2008(6 of 2009);
(l) “merchant banking or investment banking or brokerage services” includes,-
(p) "proxy adviser” means any person who provide advice, through any means, to institutional investor or shareholder of a company, in relation to exercise of their rights in the company including recommendations on public offer or voting recommendation on agenda items;
(t) "relative" means a person as defined in sub section (77) of section 2 of the
Companies Act, 2013 and who is financially dependent on independent
research analyst or individual research analyst employed by research entity;
(u) “research analyst” means a person who is primarily responsible for,-
i. preparation or publication of the content of the research report; or
ii. providing research report; or
iii. making 'buy/sell/hold' recommendation; or
iv. giving price target; or
v. offering an opinion concerning public offer,
with respect to securities that are listed or to be listed in a stock exchange,
whether or not any such person has the job title of 'research analyst' and
includes any other entities engaged in issuance of research report or
research analysis.
Explanation.-The term also includes any associated person who reports
directly or indirectly to such a research analyst in connection with activities
provided above;
(v) "research entity" means an intermediary registered with Board who is also
engaged in merchant banking or investment banking or brokerage services
or underwriting services and issue research report or research analysis in its
own name through the individuals employed by it as research analyst and
includes any other intermediary engaged in issuance of research report or
research analysis;
